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Foreign investors pile into Nigeria’s high-yield OMO bills

Lagos, Nigeria. © Unsplash
Lagos, Nigeria. © Unsplash

Dulue Mbachu

Dulue Mbachu, an experienced journalist, covers business and politics for Allen Dreyfus.
  • OMO bills offer yields above 23% as foreign portfolio investors pour in
  • Treasury bill subscriptions drop nearly 46% amid expectations of rate cuts

 

ABUJA, NIGERIA – Nigeria is keeping overseas investors hooked on its Open Market Operations (OMO) bills with double-digit returns, even as demand for Treasury bills slows, according to fresh data from the Central Bank.

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