The Central Bank of Nigeria (CBN) conducted an Open Market Operations (OMO) auction on March 6, 2025, attracting N1.88 trillion in total subscriptions—more than three times the N600 billion initially offered.
Despite the strong demand, stop rates on the 355-day and 362-day bills declined again, signaling a shift in the fixed-income market as the CBN moderated yields.
The latest auction saw the stop rate for the 355-day bill drop to 19.19% from 21.32% in the previous auction, representing a 2.13 percentage point decline. Similarly, the 362-day bill cleared at 19.45%, down from 21.35%, reflecting a 1.90 percentage point decline.