CBN returns N2.87 trillion to banks, but borrowing costs remain high

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The Central Bank of Nigeria returned about 2.87 trillion naira to banks after maturities of older open-market bills exceeded its October bill sales. Despite the resulting liquidity injection, borrowing costs remain high.

In October the Central Bank of Nigeria sold N6.182 trillion in new Open Market Operation (OMO) bills, while N9.051 trillion in older bills matured. The difference, about N2.87 trillion, flowed back to the banks. The post CBN returns N2.87 trillion to banks, but borrowing costs remain high appeared first on Nairametrics.

Markets Central Bank of Nigeria OMO bills bank liquidity borrowing costs monetary policy

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