Nigeria's system liquidity reaches N4.66 trillion as OMO maturities surge
Financial system funds hit a record weekly high of N4.66 trillion driven by massive Open Market Operations maturing, despite heavy sterilization efforts. The Central Bank is also cutting treasury bill issuance to its lowest level in Q3.
Nigeria's financial system liquidity jumped 28.98 percent week-on-week to N4.66 trillion according to the latest Financial Markets Dealers Association (FMDA) Weekly Market report. Funds previously sitting at N3.61 trillion surged as Open Market Operations (OMO) instruments and Treasury bills paid out substantial amounts. This expansion occurred even though the Central Bank of Nigeria (CBN) attempted to drain roughly N3.75 trillion from the system through OMO and Nigerian Treasury Bills auctions.
The FMDA report suggests the high liquidity position will likely persist this week, with approximately N3.02 trillion expected to flow in. OMO maturities accounted for about 97 percent of these projected inflows at N2.94 trillion. Treasury bill maturation contributed N71.37 billion, while corporate bond coupons and commercial paper added smaller amounts totaling over N260 billion.
In a separate move related to issuance, the CBN plans to auction N500 billion in treasury bills during the current week. This represents the lowest issuance size recorded in the third quarter of 2026. The upcoming auction includes N100 billion of 91-day notes, another N100 billion of 182-day notes, and N300 billion of 364-day notes.
