The Central Bank of Nigeria (CBN) sold 60 days to maturity Open Market Operation (OMO) bills to investors during the last-moment auction for October 2025 with an underwhelming subscription level.

Reacting to a robust liquidity level in the financial system, the Apex Bank opened N600 billion OMO bills for subscription on Friday at the primary market auction.
The CBN offered banks and foreign portfolio holders’ short-term OMO bills across two standard tenors – 46 days and 6 days to maturity.

The 46-day bill recorded no sales due to subdued demand and higher bid rates.  The 60-day bills attracted N285.18 billion in subscriptions even with strong liquidity levels in the financial system.

Eventually, the Apex Bank allotted N1.11 billion for OMO bills with 60-day maturity priced at the spot rate of 21.7 per cent In the primary market auction in Oct, CBN offered OMO bills worth N2.4 trillion across the tenor bucket.

Interest was strong, with investors demanding 5.0x the amount on offer, although the CBN allotted only N4.4
trillion – a successful bid rate of 37.0 per cent Notably, the auction cleared at an average stop rate of 20.2 per, 627 bps lower than the prior month.