Nigeria to receive ₦8.8trn liquidity Inflow in April — FMDA

Nigeria is set to receive an estimated ₦8.84 trillion in liquidity inflows in April 2026, according to data compiled by the Financial Market Dealers Association (FMDA).

The FMDA data reveals that these inflows will be driven largely by maturing Open Market Operations (OMO) and Treasury bills.

This anticipated inflow represents a 15.5% decline from the ₦10.46 trillion recorded in March, when liquidity surged to its highest level so far this year.

The expected moderation reflects a sharp drop in Treasury bill maturities, even as other inflow drivers remain significant. Nonetheless, system liquidity is expected to remain elevated, raising questions about how monetary authorities will manage excess funds in the banking system.

FMDA data shows that multiple sources will support liquidity levels in April, with OMO maturities leading the pack.

These maturities will account for the largest share at ₦5.88 trillion, representing approximately 66% of total inflows.

The report also highlights that Federation Account Allocation Committee (FAAC) disbursements are estimated at ₦1.8 trillion, providing additional support, while Treasury bill maturities are projected to drop significantly to ₦722.72 billion from the ₦2.84 trillion recorded in March.

The dominance of OMO maturities highlights their central role in shaping liquidity trends and suggests a likely policy response from the Central Bank of Nigeria (CBN) to manage the excess funds.

Analysts expect the CBN to step up liquidity management efforts to counterbalance the impact of these large inflows, aiming to prevent an excessive easing of financial conditions that could fuel macroeconomic instability.