Nigeria, Feb. 14 -- On February 13, 2025, the Central Bank of Nigeria (CBN) held another Open Market Operation (OMO) auction, drawing many investors.

Subscriptions totaled N1.915 trillion, demonstrating ongoing trust in CBN's tools for managing liquidity.

However, demand was far lower than during the January 31, 2025 auction.

Despite this, the central bank sold N1.395 trillion worth of OMO bills, a 39.5% increase from the N1 trillion sold in January, increasing the overall volume of successful bids.

Analysis of the February 2025 OMO Auction

The CBN offered two subscription tenors in the most recent auction: 355-day and 362-day bills. The initial offer size for both instruments was N300 billion.

The longer-duration 362-day bill attra...