Open Market Operations (OMO) bills have consistently traded at higher yield levels than Nigerian treasury bills (NTBs) despite their fundamental similarity as short-term government debt instruments.
This variation, a subject of heated discussion among market analysts, stems from a key regulatory feature: access to primary OMO auctions remains limited to commercial banks and foreign investors, a policy introduced several years ago.
OMO bills have their own unique identity, separate from other securities or instruments in the money market,
