CBN records N2.73trn subscriptions in January 2026 OMO auctions

The Central Bank of Nigeria (CBN) opened the 2026 monetary year with strong investor demand at its first set of Open Market Operations (OMO) auctions, pulling in total subscriptions of N2.727 trillion across medium-term maturities.

The auctions reinforced the apex bank’s tight liquidity stance, with stop rates clustering between 19.34% and 19.41%, signalling little appetite for early easing of monetary conditions.

At the January 6, 2026, OMO auction, demand was overwhelmingly skewed toward the longer end of the curve. The 210-day OMO bill attracted N2.45 trillion in subscriptions, far exceeding interest in the shorter 161-day tenor, which recorded N277 billion in bids.

CBN fully allotted the longer-dated paper, indicating a clear preference to absorb liquidity for an extended period, with the instrument maturing in August 2026.