Treasury Bills Lead N5.32tn Trades in Nigeria's Market

In the week ending July 17, 2026, Nigeria's fixed income market saw robust activity, with investors executing transactions valued at N5.32 trillion. Treasury bills emerged as the most actively traded instrument, accounting for 852 trades and a combined face value of N1.67 trillion, involving 26 market participants.

Open market operations (OMO) bills recorded the largest turnover with 499 trades worth approximately N2.85 trillion, indicating strong interest from institutional investors seeking higher returns. The Federal Government (FGN) bond market also remained healthy, with 531 trades valued at N794.58 billion executed by 22 participants.

Sukuk securities had limited activity, with only two trades worth N4 million. Yields across the fixed income market remained elevated, with OMO bills closing at approximately 21.15% for shorter tenors and 20.62% for longer tenors.

FGN bond yields ranged between 17.25% and 19.00%. The Central Bank of Nigeria continues to maintain a tight monetary policy stance to manage inflation and stabilize exchange rates.