Nigeria’s estimated financial system inflows remain above the N3 trillion mark for a second consecutive week, driven by a 30.67% surge in Open Market Operation maturities to N2.94 trillion.
Data from the central bank of Nigeria (CBN), shows OMO repayments account for approximately 97.5% of total weekly inflows, overshadowing minimal contributions from corporate bond coupons and commercial paper maturities.
This heavy liquidity concentration highlights the ongoing impact of the Central Bank of Nigeria’s aggressive monetary sterilisation cycle, as short-term bills sold in previous weeks return to the banking system.
Broad system liquidity recently climbed to N4.66 trillion, significantly easing short-term funding pressures across commercial lenders and softening overnight lending rates heading into mid-September.
Market watchers are now monitoring whether the apex bank will deploy aggressive new OMO sales to re-absorb the liquidity surge during the upcoming N500 billion Treasury bills auction.
