CBN mops up N4.48trn from market
Agency Report
The Central Bank of Nigeria (CBN) absorbed a total of N4.48 trillion from the banking system within two sessions in six days through aggressive Open Market Operations (OMO), intensifying its liquidity management drive and sharply reducing banks’ opening balances in mid-April.
Financial system data covering April 8 to April 15, 2026, show that the apex bank stepped up efforts to sterilise excess funds, particularly on April 9 and April 14, in what analysts describe as a calculated move to rein in surplus liquidity without destabilising the money market.
Total OMO sales reached N4.48 trillion across two sessions: N2.31 trillion on April 9 and N2.17 trillion on April 14
The interventions were complemented by an OMO repayment of N1.34 trillion recorded on April 14.
On April 9, primary market sales stood at N731.38 billion, while a repayment of N357.89 billion was recorded the same day, reflecting active liquidity cycling through the system.
As a result of the aggressive mop-up, banks’ opening balances dropped sharply to N99.05 billion on April 15 from N135.76 billion the previous day and N179.31 billion on April 10.
Despite the moderation in opening balances, the banking system remained flush with liquidity. A significant volume of funds was still parked in the Standing Deposit Facility (SDF), a window through which banks deposit excess cash with the CBN.
However, SDF balances declined steadily to N3.69 trillion on April 15 from N6.98 trillion on April 8, suggesting that a portion of excess liquidity had been successfully sterilised through the OMO auctions.
