CBN reverses OMO restriction, opens market to local investors
*Individuals, corporates, non-bank institutions now eligible * Lifts tenored repo suspension *Removes FX, govt securities restrictions on Discount Window access By Babajide Komolafe The Central Bank of Nigeria, CBN, yesterday reversed its seven-year restriction on local investors’ participation in Open Market Operations, OMO, opening the market to individuals, corporates and non-bank financial institutions.” The apex bank also removed restrictions on access to its Discount Window arising from participation in the Nigerian Foreign Exchange Market, NFEM, and primary auctions of government securities.
The Bank has also reviewed the framework governing access to the Standing Lending Facility (SLF), Tenored Repo Operations and participation in Open Market Operations (OMO).
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