The Central Bank of Nigeria (CBN) has commenced the issuance of International Securities Identification Numbers (ISIN) to its OMO bills, making it easier to distinguish between the different securities that the bank issues.
This is coming almost two months after the apex bank had to clarify on the difference OMO bills and Treasury bills following its directive that excluded non-bank local investors from its OMO auctions.
Analysts say the policy has created confusion in the market in identifying each bills and this has affected settlement and trade.
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“Please be informed that the Central Bank of Nigeria has commenced the issuance of International Securities Identification Numbers (ISIN) to its OMO bills,” according to a statement dated December 19, which was signed by Angela Sere-Ejembi, CBN’s Director of Financial Markets Department.
An ISIN number is a 12-character alpha-numerical number that does not contain information characterizing financial instruments but serves for uniform identification of a security at trading and settlement.
The code uniquely identifies a security, such as stocks, bonds and more.
