OMO Bills Dominate Fixed Income Market as Investors Stake N913bn

The Nigerian fixed income market opened the new month on a strong note as investors traded over N913 billion worth of securities across Open Market Operation (OMO) Bills, Treasury Bills and Federal Government (FGN) Bonds on June 1, 2026.

Data from the Fixed Income Dashboard, released by the Central Bank of Nigeria (CBN) showed that OMO Bills accounted for the largest share of market activity by value, recording transactions worth N636.74 billion from 81 deals, while Treasury Bills posted 287 trades valued at N277.09 billion. FGN Bonds recorded 38 transactions worth N64.20 billion.

The data indicated that Treasury Bills remained the most actively traded instrument by volume of transactions, accounting for 287 deals executed by 26 market participants, compared to 81 trades in OMO Bills and 38 trades in FGN Bonds.

In the OMO segment, the highest closing yield of 21.83 per cent was recorded on the bill maturing June 16, 2026, while the bill maturing January 12, 2027 closed at 18.33 per cent after attracting a transaction volume of N153.03 billion.

The most actively traded OMO instrument was the bill maturing June 16, 2026, which recorded a turnover of N201.60 billion across 11 deals. The January 12, 2027 maturity bill came second with N153.03 billion in 17 deals. This was followed by the September 8, 2026 maturity bill with transactions valued at N149.49 billion.

Activity in the Treasury Bills market was concentrated on medium-term maturities. The bill maturing February 18, 2027 recorded the largest transaction volume of N167.45 billion from 62 trades and closed at 18.19 per cent. Similarly, the April 22, 2027 maturity attracted N51.75 billion worth of transactions across 99 deals and closed at 18.10 per cent.

Market data further showed that Treasury Bill yields ranged from 15.78 per cent to 18.93 per cent, reflecting sustained investor appetite for short-dated government securities.

In the FGN bond segment, the 2029 bond emerged as the most actively traded instrument by value, with transactions worth N21.20 billion across 10 deals. The bond closed at 16.40 per cent, down from its opening rate of 16.55 per cent.
Other benchmark bonds traded during the session included the 2031, 2032, 2033, 2035 and 2037 maturities, with closing yields ranging between 16.79 per cent and 17.00 per cent.
Overall, weighted average yields stood at 21.52 per cent and 18.54 per cent for OMO Bills, 16.73 per cent and 18.20 per cent for Treasury Bills, while FGN Bonds recorded weighted average yields ranging from 16.55 per cent to 17.07 per cent across the various maturities traded during the session.