FGN Bonds Dominate Fixed Income Market with N721.6bn Trades

Federal Government of Nigeria (FGN) Bonds dominated activities in the fixed income market on Wednesday July 22, 2026, accounting for the highest number of trades and the largest face value transacted across major government securities.

Data from the Central Bank of Nigerian showed that FGN Bonds recorded 358 trades with a face value of N721.62 billion, making it the most actively traded security during the day.

Treasury Bills followed with 163 trades valued at N434.84 billion, while Open Market Operation (OMO) Bills recorded 93 trades with a face value of N565.10 billion. Sukuk securities posted the least activity, recording just five trades worth N19.50 billion.

Overall, the market recorded 619 trades with a combined face value of approximately N1.74 trillion, involving 25 market participants.

On the yield curve, FGN Bond closing yields remained largely stable across most maturities before declining sharply at the longest tenor, where the closing yield settled at 15.28 per cent after hovering around the 18 per cent region across shorter maturities.

Similarly, the OMO Bills segment showed a downward movement in yields, easing from 21.79 per cent at the shorter tenor to 19.63 per cent at the one-year maturity.

Treasury Bills, however, recorded an upward yield movement, with the closing yield rising from 15.81 per cent to 20.44 per cent across the available maturities, indicating relatively higher returns on longer-dated bills.