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 Subscription Content
You must be an allAfrica.com subscriber for full access to certain content.
You have selected an article from the AllAfrica archive, which requires a subscription. You can subscribe by visiting our subscription page. Or for more information about becoming a subscriber, you can read our subscription and contribution overview.
For information about our premium subscription services:
You can also freely access - without a subscription - hundreds of today's top Africa stories and thousands of recent news articles from our home page »
Already a subscriber? Sign in for full access to article