Nigeria's Fixed Income Market Hits N29.36tn in July 2026

In July 2026, Nigeria's fixed income market demonstrated significant activity, with a total turnover of N29.36 trillion across 9,875 trades, as reported by the Central Bank of Nigeria (CBN) Fixed Income Dashboard. Open Market Operation (OMO) Bills dominated the market, accounting for N16.44 trillion from 2,809 trades, indicating strong investor interest in short-term liquidity management instruments amid high yields.

Treasury Bills ranked second, with a traded face value of N6.98 trillion from 3,700 trades, marking the highest number of transactions among fixed income instruments. Federal Government of Nigeria (FGN) Bonds followed with N5.87 trillion across 3,343 trades, while Sukuk instruments recorded N69.11 billion from 23 trades.

The yield curve reflected Nigeria's high interest rate environment, with OMO Bills yielding between 20.47% and 21.62%, and Treasury Bills yielding from 17.62% to 20.91%. The trading patterns suggest a preference for short-dated securities, while the volume in FGN Bonds indicates ongoing institutional demand from pension funds, banks, and asset managers.