Nume Ekeghe
Trading activity in Nigeria’s fixed-income market rose to N8.84 trillion in face value during the week ended August 7, 2026, with Open Market Operations (OMO) bills accounting for the largest share of transactions, according to data from the Central Bank of Nigeria (CBN).
The CBN’s Fixed Income Dashboard showed that a total of 2,348 trades were executed across OMO bills, Treasury bills, Federal Government of Nigeria (FGN) bonds and Sukuk during the period.
OMO bills dominated activity with 916 trades valued at N6.33 trillion, representing about 71.6 per cent of total traded face value.
Treasury bills followed with 769 trades valued at N1.34 trillion, while FGN bonds recorded 656 trades with a face value of N1.15 trillion. Sukuk accounted for seven trades valued at N13.08 billion.
Overall, the market attracted 27 participants during the week, with OMO bills recording 23 participants, while Treasury bills and FGN bonds each attracted 24 participants. Sukuk had four participants.
The trading pattern underscores the continued prominence of short-term government securities in the fixed-income market, particularly OMO bills, amid prevailing liquidity and monetary policy conditions.
Meanwhile, yields across the fixed-income curve remained elevated during the review period. The dashboard showed closing yields ranging from the mid-teens to above 20 per cent across various maturities and instruments.
For OMO bills, the reported closing yield reached 22.67 per cent at the shorter tenor, compared with a weighted-average yield of 21.59 per cent.
Treasury bill yields also remained high, with the dashboard showing a closing yield of 20.25 per cent at one of the reported tenors, while the FGN bond curve featured yields ranging from around 14.85 per cent to above 17 per cent across several maturities.
The latest data cover transactions executed through August 7, 2026, providing an indication of continued strong activity in Nigeria’s fixed-income market as investors position across short- and long-dated government securities.