Investors Stake N1.8trn on Fixed Income Bills

Nigeria’s fixed income market remained robust on Wednesday, June 18, 2026, with Treasury Bills accounting for the largest share of transactions as total market turnover closed at N1.85 trillion.

Data from the Central Bank of Nigeria’s Fixed Income Dashboard showed that a total of 641 trades valued at N1.848 trillion were executed across Treasury Bills, Open Market Operations (OMO) Bills and Federal Government of Nigeria (FGN) Bonds.

Treasury Bills emerged as the most actively traded instrument, recording 436 deals with a face value of N1.057 trillion, representing over half of the total market turnover. The segment also attracted 25 participants, the highest among the fixed income instruments traded during the day.

OMO Bills followed with 111 trades worth N594.86 billion involving 17 participants, while FGN Bonds recorded 94 deals valued at N196.94 billion and attracted 10 participants.

In the Treasury Bills market, the one-year paper maturing June 17, 2027 dominated activity, accounting for 303 trades valued at N787.22 billion. The instrument closed at a yield of 20.75 per cent, compared with an opening yield of 100.65 per cent.

Other actively traded Treasury Bills included the February 18, 2027 maturity, which recorded 29 trades worth N132.04 billion and closed at a yield of 17.89 per cent, as well as the September 17, 2026 bill, which posted 19 trades with a turnover of N25.85 billion and a closing yield of 16.68 per cent.

In the OMO Bills segment, the July 14, 2026 maturity led activity with 50 trades valued at N370 billion. The instrument closed at a yield of 21.37 per cent. The September 8, 2026 OMO Bill followed with 14 trades worth N125.65 billion and a closing yield of 20.78 per cent.

Across the bond market, the February 21, 2031 FGN Bond was the most actively traded security, recording 23 transactions worth N76.01 billion and closing at a yield of 17.60 per cent. The April 17, 2029 bond also attracted significant investor interest, posting eight trades valued at N36 billion with a closing yield of 17.21 per cent.

Market yield data showed that long dated government securities continued to offer lower yields compared to shorter tenor instruments. The 2053 FGN Bond closed at 15.22 per cent, while shorter dated bonds and money market instruments traded at yields ranging between 16 per cent and 22 per cent.