Fixed-income Market Records N10.51tn Turnover as OMO Bills Lead Trading

Nume Ekeghe

Trading at Nigeria’s fixed-income market recorded N10.51 trillion in turnover in the week ended August 23, 2026, with OMO bills accounting for more than two-thirds of the activity during the period.

The market recorded 2,512 trades across OMO bills, Treasury bills, FGN Bonds and Sukuk, according to data from the fixed-income dashboard.

OMO bills remained the most actively traded instrument, with 1,064 deals valued at N7.63 trillion. This accounted for about 73 per cent of the total turnover recorded during the week.

FGN Bonds followed in terms of the number of transactions, recording 800 trades valued at N1.41 trillion, while Treasury bills recorded 642 trades worth N1.46 trillion.

Sukuk, which had the least activity during the period, recorded six trades valued at N8.03 billion.

The figures point to continued investor interest in short-term government securities, particularly OMO bills, which dominated both trading activity and turnover during the week.

The market attracted 29 participants in total. OMO bills and Treasury bills each had 26 participants, while FGN Bonds attracted 22 participants. Sukuk had three participants.

On yields, the OMO market closed at 21.76 per cent, compared with a weighted average yield of 19.87 per cent.

FGN Bond yields were relatively spread across the different maturities. Closing yields ranged from 15.80 per cent on the two-year tenor to 17.82 per cent on the eight-year tenor.

The one-year bond closed at 17.10 per cent, while the three-year, five-year, six-year and seven-year maturities closed at 17.08 per cent, 17.20 per cent, 17.05 per cent and 17.15 per cent respectively. 

Overall, the N10.51 trillion turnover reflects a busy week for the fixed-income market, even as activity remained heavily tilted towards OMO bills.