Nigeria’s central bank, the Central Bank of Nigeria (CBN), announces changes to its liquidity management framework that broaden access to parts of its money market operations. In a circular dated August 12, 2026 and signed by Acting Director of Financial Markets Okey Umeano, the CBN says participating in foreign exchange (FX) transactions and government securities auctions no longer blocks banks from accessing its Discount Window, a short-term funding facility.
The CBN also lifts a suspension on tenored repo transactions, allowing repurchase agreements across maturities of 4 to 90 days, rather than only overnight borrowing. In addition, the CBN widens participation in Open Market Operations (OMO) beyond banks to include individuals, corporates, and non-bank financial institutions, while requiring OMO transactions to be routed through deposit money banks.
Across outlets, the main difference is emphasis: one report highlights both the FX/government securities eligibility changes and the repo/OMO expansion, while the other focuses on the removal of Discount Window restrictions for FX and OMO participation rules. Both describe the immediate implementation and the continued operational limits, including a rule that institutions cannot access the Discount Window and take part in OMO auctions on the same day.
