Open Market Operations: CBN delists individuals and local corporates
Open Market Operations (OMO) – The Central Bank of Nigeria (CBN) has directed that individuals and local corporates (inclusive of non bank financial institutions) have been excluded from investing in OMO auctions at both the primary and secondary market.
With this directive, only banks and foreign investors can invest in the OMO bills now.
The OMO is a monetary policy instrument used by CBN to control liquidity in the system and it involves the sales or purchase of government securities in the money market.
This circular was communicated to Deposit Money Banks on 24th October, 2019 and effective immediately as stated by the circular.
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