Investors submitted a massive N12.14 trillion in bids across two Open Market Operations (OMO) auctions held by the Central Bank of Nigeria (CBN) in late September, despite a downward trend in yields. The CBN allotted N6.94 trillion, with subscriptions reaching 3.57 times the offered amount. Analysts attribute this resilient demand to the comparative attractiveness of Nigerian fixed-income yields on the global stage, improved naira stability, and broader market participation following the inclusion of retail investors in the OMO space. As of early October, liquidity remains high, with over N4.6 trillion held in the CBN’s Standing Deposit Facility, signaling continued appetite for government instruments as the market adjusts to the recent Monetary Policy Rate cut.