Nigeria's Fixed-Income Market Sees N10.51 Trillion Turnover, OMO Bills Lead Trading

Nigeria's fixed-income market experienced a robust trading week, with a total turnover of N10.51 trillion for the week ending August 23, 2026. Open Market Operation (OMO) bills were the most actively traded instruments, significantly driving the market's activity and volume.

Data from the fixed-income dashboard reveals that OMO bills accounted for approximately 73% of the total turnover, with 1,064 deals valued at N7.63 trillion. This highlights sustained investor confidence in short-term government debt. Following OMO bills, FGN Bonds saw 800 trades totaling N1.41 trillion, while Treasury bills recorded 642 trades worth N1.46 trillion. Sukuk instruments had the least activity, with only six trades valued at N8.03 billion.

The market attracted 29 participants overall. OMO bills and Treasury bills each engaged 26 participants, while FGN Bonds attracted 22. Sukuk had three participants. The yields in the OMO market closed at 21.76%, an increase from the previous weighted average yield of 19.87%. FGN Bond yields showed a spread across maturities, ranging from 15.80% on the two-year tenor to 17.82% on the eight-year tenor.

Overall, the N10.51 trillion turnover underscores a dynamic week in the fixed-income market, with a clear preference for OMO bills among investors. This continued focus on short-term government securities indicates a stable, albeit yield-sensitive, investment landscape within Nigeria's financial sector.