Investors’ subscriptions for the Central Bank of Nigeria’s Open Market Operations (OMO) bills have climbed to ₦20.6 trillion in September 2026, marking the highest monthly level recorded so far this year.
Data from the CBN showed that September subscriptions increased from ₦18.72 trillion recorded in August, representing a rise of about ₦1.88 trillion, or 10 per cent.
The increase followed the CBN’s decision to broaden access to OMO transactions, allowing individuals, companies and non-bank financial institutions to participate through deposit money banks.
So far in September, the apex bank has offered ₦3.9 trillion worth of OMO bills, compared with ₦3.8 trillion in August. Successful bids also increased to ₦12.82 trillion from ₦12.02 trillion in the previous month.
The strong demand comes as investors continue to look for opportunities in fixed-income instruments amid changes in Nigeria’s monetary policy environment.
At the September 24 auction, the stop rate for a 152-day OMO bill stood at about 17.29 per cent.
The CBN also clarified that its recent reduction of the Monetary Policy Rate from 26.5 per cent to 23 per cent should not be interpreted as a broad easing of monetary policy. The bank said the adjustment was intended to better align its benchmark rate with prevailing conditions in the money market.
According to the CBN, its monetary policy stance remains restrictive, while efforts are continuing to improve the transmission of monetary policy through Nigeria’s financial markets.
The development highlights continued efforts by the apex bank to manage liquidity in the financial system while improving how its policy decisions influence interest rates and investment conditions.
