Access: Liquidity drain from OMO auction debit to keep market calm

Traders at Access Bank expect a further weakening of the naira against the US Dollar if demand pressures persist. Meanwhile, total subscription from this week’s OMO auction reached 1.8 trillion naira with 1.67trn allotted across the 355-day and 362-day tenors. Given the liquidity drain from the OMO auction debit, the market is expected to keep calm. Ibukun Omojufehinsi, Treasury Team Member at Access Bank joins CNBC Africa for more market movements.