The Central Bank of Nigeria (CBN) intensified its liquidity-tightening campaign in the month of January, selling N8.5 trillion ($5.7 billion) of Open Market Operation instruments to banks and investors, one of the most aggressive monthly mop-ups in recent years as it seeks to curb inflationary pressures and stabilise the naira. OMO auctions are a standard tool in the monetary policy armoury. By issuing interest-bearing securities to banks and investors, the central bank effectively drains excessive cash from circulation. When too much money is chasing limited goods and dollars, prices rise and the naira comes under pressure........................….......READ MORE