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CBN expects N10.90trn liquidity surge in June on N7.77trn OMO maturities

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The Central Bank of Nigeria (CBN) is set to confront renewed liquidity management pressures in June 2026 as Nigeria’s financial system is projected to receive N10.90 trillion in inflows, largely driven by maturing Open Market Operations (OMO) bills. 

The Central Bank of Nigeria (CBN) is set to confront renewed liquidity management pressures in June 2026 as Nigeria’s financial system is projected to receive N10.90 trillion in inflows, largely driven by maturing Open Market Operations (OMO) bills.

This is according to the Financial Markets Dealers Association Monthly Market Report, which showed that June’s projected inflows represent a 3.51% increase from the N10.53 trillion recorded in May.

The development comes despite the apex bank’s aggressive liquidity tightening efforts in May, during which it withdrew an estimated N12.06 trillion from the financial system.

However, average system liquidity still expanded by 7.76% to N5.22 trillion, highlighting the challenge of containing excess liquidity amid large recurring inflows.

The FMDA report indicates that OMO maturities will remain the dominant source of liquidity inflows into the financial system during June. The N7.77 trillion expected from maturing OMO bills accounts for approximately 71% of total projected inflows for the month.

Total projected inflows for June 2026 stand at N10.90 trillion, up 3.51% from N10.53 trillion recorded in May.

OMO maturities are projected at N7.77 trillion, rising from N7.17 trillion in May and accounting for the largest share of liquidity inflows.

FAAC disbursements are expected at N1.80 trillion, while Treasury Bills maturities are projected at N995.81 billion.

FGN bond coupons, corporate bond maturities, and commercial paper maturities are estimated at N278.99 billion, N49.04 billion, and N10.46 billion respectively.

The data underscores the cyclical nature of liquidity management in Nigeria, where OMO instruments used to absorb liquidity eventually mature and return substantial cash to the banking system, necessitating fresh sterilisation measures by the CBN.

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