FGN Bonds Lead Fixed Income Market Activity as Turnover Hits N1.16tn

Nigeria's fixed income market saw robust activity on June 19, 2026, with a total turnover of N1.16 trillion across 447 deals. Federal Government of Nigeria (FGN) bonds dominated trading, accounting for N487.91 billion of the total volume. This strong performance in the bond segment underscores a sustained investor interest in sovereign debt, even as market yields remain high.

Other key asset classes also contributed significantly to the day's trading. OMO Bills recorded N438.17 billion in transactions, while Treasury Bills saw N226.10 billion traded. Sukuk instruments, though less active, contributed N10 billion. A total of 27 market participants were engaged during the session, indicating broad market participation.

The February 2031 FGN Bond was the most sought-after, with 45 deals worth N118.45 billion. The April 2037 bond followed with 41 trades valued at N62.58 billion. Notably, the May 2033 instrument saw the largest traded volume at N140.53 billion across 30 deals. Yields across the bond curve generally remained stable, hovering in the mid-to-high teen range, with the 2031 bond closing at 17.95 percent and the 2037 issue at 18.15 percent.

In the Treasury Bills segment, the June 17, 2027 maturity was particularly active, recording 81 trades and a turnover of N167.09 billion, closing at a yield of 20.44 percent. The OMO market was led by the January 12, 2027 instrument, which generated 22 trades worth N170.98 billion and closed at a yield of 19.92 percent. Yields in the OMO market largely stayed above 20 percent, reflecting a preference for high-yielding short-term instruments. The overall session highlighted continued demand for government securities, with investors keen on locking in attractive yields.