{
  "id": 16158971,
  "title": "CBN sells N2.63 trillion OMO bills, N629 billion above initial offer, as stop rates rise",
  "url": "https://urgent.news/2026/10/23/cbn-sells-n2-63-trillion-omo-bills-n629-billion-above-initial-offer",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-23T06:08:57.000Z",
  "source": {
    "name": "Nairametrics",
    "slug": "nairametrics",
    "url": "https://nairametrics.com/2026/10/23/cbn-sells-n2-63-trillion-omo-bills-n629-billion-above-initial-offer-as-stop-rates-rise/"
  },
  "original_language": "en",
  "account": "The Central Bank of Nigeria (CBN) conducted a successful Open Market Operations (OMO) bill auction on October 22, 2026, selling N2.628 trillion in bills, surpassing its initial offer of N2 trillion by N628.52 billion, or 31.43%. This increase in OMO bill sales came as stop rates across different tenors rose, signaling the potential resumption of rate hikes. Investors submitted a total of N2.728 trillion in bids, which was 1.36 times the initial amount offered. The 180-day bill was the most popular, with N1.773 trillion allotted, exceeding the N1 trillion initial offer by a significant margin. The 138-day bill, on the other hand, was undersubscribed despite a higher stop rate, with N875.24 billion in subscriptions, falling short of its N1 trillion offer. The CBN allotted N855.24 billion for the 138-day bill. The October 22 auction saw higher stop rates compared to the previous OMO sale on October 6. While the tenors differed slightly, the recent drop in OMO stop rates appeared to have paused. The downward trend in OMO stop rates began after the CBN's Monetary Policy Committee (MPC) announced a 350-basis-points rate cut in September. However, the latest auction results indicate that stop rates may have resumed their upward trajectory. The recent OMO sale took place amid ample liquidity in the banking system and maturing CBN securities. The Financial Markets Dealers Association (FMDA) had projected N2.067 trillion in OMO maturities for the week leading up to October 19. The N2.628 trillion allotted on October 22 exceeded this projected maturity by approximately N562 billion. The increase in stop rates, even with ample liquidity, suggests that investors continue to seek higher rates. Subsequent OMO auctions will provide further insight into whether investors maintain their demand for higher rates or if substantial demand drives accepted rates down.",
  "summary": "The Central Bank of Nigeria (CBN) sold N2.628 trillion in Open Market Operations (OMO) bills at its October 22, 2026 auction, exceeding its initial N2 trillion offer by N628.52 billion, or 31.43%, as stop rates increased across both tenors, signaling resumption of rates increase. The post CBN sells N2.63 trillion OMO bills, N629 billion above initial offer, as stop rates rise appeared first on…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}