By Mariam Abeeb
The Central Bank of Nigeria has withdrawn N3.04 trillion from the banking system through a single Open Market Operations auction, following overwhelming demand from investors for its short and medium-term debt instruments.
Findings from an analysis of the apex bank’s auction results and financial market data for the week showed that investors submitted bids worth N3.275 trillion against the N600 billion offered by the CBN.
The oversubscription, which stood at 5.46 times the amount on offer, reflects sustained investor confidence in the CBN’s liquidity management instruments and signals expectations of continued tight monetary policy.
The move is part of the apex bank’s aggressive efforts to mop up excess liquidity from the financial system in a bid to curb inflationary pressures.
Details of the auction showed that the 133-day OMO bill attracted the highest interest from investors.
The instrument received subscriptions worth N2.48 trillion against an offer of N200 billion, with the CBN allotting N2.41 trillion at a stop rate of 20.02 per cent.
The 35-day bill also recorded strong demand, attracting N614.43 billion in subscriptions compared to the N200 billion offered. The apex bank allotted N465 billion at a stop rate of 21.40 per cent.
Similarly, the seven-day bill drew subscriptions of N179 billion against a N200 billion offer, while N169 billion was allotted at a stop rate of 21.54 per cent.
In total, the CBN offered N600 billion, received subscriptions of N3.275 trillion and allotted N3.04 trillion, resulting in a net liquidity withdrawal of N3.04 trillion from the banking sector.
Analysts said the strong demand, particularly for the 133-day instrument, suggests that investors are increasingly willing to lock in funds for longer periods despite lower yields.
The figures also indicate that surplus liquidity remains in the financial system, with investors continuing to channel available funds into the CBN’s sterilisation instruments.
The latest auction comes on the heels of two major OMO exercises conducted in May, during which the apex bank absorbed trillions of naira from the financial system as part of its monetary tightening measures.
Market observers noted that the 12.4-times oversubscription recorded by the 133-day bill highlights expectations that interest rates may remain elevated in the near term.
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NIGERIA CUSTOMS HAS BEGINS ONLINE AUCTIONING OF SEIZED VEHICLES,OIL, RICES
LAPTOPS, GENERATOR'S, FRIDGE, TELEVISION, CONTAINERS, PHONE, MOTORCYCLE,KEKE TRICYCLE, BALE OF CLOTHES, NDUSTRIAL SEWING MACHINES CEMENT….Granting Nigerians the Privilege to Own any ITEMS at Affordable prices.
INSTALLMENTAL PAYMENT IS FULL ALLOWED WITH A MINIMUM PERIOD OF 3 MONTHS AND A MAXIMUM PERIOD OF 9 MONTHS!!! THIS PERIOD IS ONLY APPLICABLE FOR VEHICLES THANKS FOR YOUR PATRONAGE.
INTERESTED BUYERS SHOULD
CONTACT THE STATE AUCTIONEER.
CUSTOM OFFICER GABRIEL ESHIEMOMOH VIA :- O80✓6739✓9O9O
RICE AVAILABLE FOR SALES ARE :-
Royal umbrella=18,000
Mama Gold=20,000
Royal stallion=18,000
Rising sun=18,000
Special rice=18,000
Mama Africa=18,000
Elephant Gold=18,000
Caprice =20,000
Gallon of oil =9,500
NOTE: TRANSPORTATION CHARGES IS (#1000) which must be paid before we ensure your delivery.
~INDUSTRIAL SEWING MACHINES
BROTHER INDUSTRIAL #1OO,000
JUKI INDUSTRIAL #95000
EMEL INDUSTRIAL. #95000
SINGER INDUSTRIAL AND MORE
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SOME CAR LIST BELOW.
Golf 2 3 4 350k __ 500k
TOKUNBO CARS BELOW :�
2008 Corolla Sport 1m
2010 Corolla Sport 1.970m
2012 Corolla Sport 2.980m
Awoof 2009 Lexus RX350 1.5m
2013 Camry XLE – Back Vent AC – V4 – 1.580m
2001 Camry N280k
2003 Camry N520k
2005 Camry LE .680k
2015 Matrix 1.7m
2008 Toyota Camry 1.3m
2012 Camry Sport 2.850m
2014 Rav4 Sport N2.8m
2016 Honda pilot EX 2.4m
2012 Benz E320 N2.4m
1999 Sienna 150k
2006 Lexus RX300 1m
Pegeout 406 Manual AC 720k
2012 Honda CRV EX 2.850m
O15 Honda Accord 2million
2011 Corolla XLE – Alloy + Formica 2.850m
2015 Toyota LandCruiser 3m
2010 Corolla LE 1.8m
2016 RX350 4.1m with Mouse
2018 RX350 5.8m with mouse
202O Toyota Tacoma 6.8m
2013 Avalon Thumbstart 2.5m
2012 Avalon key 2.1m
2012 Pointiac Vibes 2.8m
2011 Benz E230 N2.4m
2017 Sienna CE 2.980m
2016 Sienna XLE 2.550m
2016 Corolla Sport 3.5m
2010 Camry LE 2.350m
2011 Camry LE 2.4m
2018 Lexus GX460 5.4m
2015 Lexus ES350 .4m
2010 Corolla Manual N1.580m
2018 Acura MDX 4.6m
018 Benz C300 3m
017 Benz GL450 5.3m
2018 Benz GL550 5.8m
OI8 Benz GLS 3.8M
2O2O Benz Gls 4.6mill
2006 Rav4 .850k
Awoof 08 Pilot N.750k
2008 Pilot 800k EX
2009 Highlander sport 2.8m
2018 Highlander Limited 3.2m
2012 Rav4 EX Rev Camera + Thumbstart@ 2m
08 Honda Accord N890k
2012 Camry XLE .2m V4
2013 Honda Accord 2.m
2015 Honda Accord N3m
2013 Matrix N1m80k
2012 Honda CRV 900k
2003 Honda Element 550k
2008 Camry 990k
2016 Honda Ridgeline 2.6m
2014 Camry LE 2.750m
2013 Ford Edge SEL 2.9m
2014 Ford Edge SEL .3m
Fresh like toks 2013 Benz E200 N3m
2012 Rav4 1.9m
2014 Kia Cerato 2.m
2015 Benz GLK350 3.5m
2015 Range Rover evogue 6.650m
OI8 Range Rover evogue 8mill
2O2O Range Rover evogue 10m
OI8 Range Rover sports 6.8M
2006 Quest 850k
2008 Kia Rio 800k
2012 Camry Xle 1.680m
O12 Venza .2million
2O22 GX460-N8M
2O14 Venza 3M
2O18 Corolla N6m
O2O LandCruiser 6m
2OI8 LandCruiser 3.9mill
2O2O Prado N5.2m
2OI8 Prado 4mill
2O20 Rav4 N6.2M
2O20 g-wagon N35M
2O21 Hilux 6.8M
OI8 HILUX 3.6m
2O18 Bus 5.850M
Tipper Head 8M
TOKUNBO CARS ABOVE :�