Abiodun Folarin
WorldStage– Nigeria’s fixed income market recorded a total turnover of N1.16 billion with Open Market Operation (OMO) Bills accounting for the largest share of transactions, according to market data from the Fixed Income Dashboard.
According to report of the fixed income dashboard market released by the Central Bank of Nigeria, on Tuesday, data showed that investors traded a total volume of N1.159 billion across OMO Bills, Treasury Bills and Federal Government of Nigeria (FGN) Bonds, involving 457 transactions and 25 market participants.
OMO Bills led activity with a traded volume of N802.65 million, representing nearly 70 per cent of total market turnover, followed by FGN Bonds at N192.03 million and Treasury Bills at N164.75 million.
Treasury Bills recorded the highest number of deals at 176 trades, while FGN Bonds and OMO Bills posted 141 and 140 trades respectively.
Market yields remained elevated across instruments. OMO Bills closed with yields ranging from 18.54 per cent to 21.61 per cent, reflecting strong investor appetite for short-term securities amid prevailing tight monetary conditions. The most actively traded OMO instrument was the bill maturing on October 20, 2026, which recorded 47 trades worth N286.2 million and closed at a yield of 21.54 per cent.
In the Treasury Bills segment, yields ranged between 15.07 per cent and 19.31 per cent. The bill maturing on June 3, 2027 attracted the highest trading activity with 44 transactions valued at N43.99 million, closing at a yield of 19.26 per cent. Another actively traded instrument was the May 20, 2027 Treasury Bill, which recorded 34 trades worth N18.53 million and closed at 19.39 per cent.
Trading in the FGN Bond market was concentrated in medium- and long-term maturities. The bond maturing on April 18, 2037 emerged as the most actively traded security, accounting for 61 trades and a volume of N113.17 million, with a closing yield of 17.26 per cent.
FGN Bond yields generally traded within the 15.10 per cent to 17.60 per cent range. The longest-dated instrument, the June 2053 bond, closed at a yield of 15.10 per cent, indicating continued demand for long-duration government securities despite prevailing high interest rates.
Overall, the yield curve remained relatively steep, with short-term OMO Bills offering yields above 21 per cent while long-term FGN Bonds traded around 15 to 18 per cent, underscoring investor preference for liquidity and attractive short-term returns.
