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The Central Bank of Nigeria offered N2 trillion in OMO bills on October 22 as commercial banks continued to hold more than N6 trillion at the standing deposit facility.

Nigerian equities fell as banking stocks led losses, with breadth turning negative and turnover moderating.

Nigeria's banking system is expected to absorb about N13.25 trillion in liquidity inflows in October, the FMDA estimates, as the CBN manages excess cash.