Nigeria: CBN Cuts Treasury Bills Sale By 62% to N7.77trn

4 January 2021

The Central Bank of Nigeria sold N7.77 trillion worth of secondary market (Open Market Operations) treasury bills in 2020, down by 62 percent from N13.92 trillion sold in 2019.

Secondary market (Open Market Operations, OMO) treasury bill is one of the instruments used by the CBN to control money supply in the economy. When the CBN wants to reduce money supply, it sells OMO treasury bills (TBs) and when it wants to increase money it sells OMO TBs.

...

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.