Nume Ekeghe
Trading activity in the fixed income market remained buoyant on June 19, 2026, with investors transacting securities worth N1.16 trillion across 447 deals, as Federal Government of Nigeria (FGN) bonds emerged as the most actively traded asset class.
Data from the Fixed Income Dashboard showed that FGN bonds accounted for N487.91 billion of total turnover, spread across 207 transactions, ahead of OMO Bills, which recorded N438.17 billion in trades from 96 deals. Treasury Bills contributed N226.10 billion from 138 transactions, while Sukuk instruments recorded N10 billion in six deals. A total of 27 market participants were active during the trading session.
The strong volume recorded in the bond segment highlights sustained investor appetite for sovereign instruments despite elevated yields across the market.
Among the bonds traded, the February 2031 FGN Bond attracted the highest number of transactions, with 45 deals worth N118.45 billion. The April 2037 bond followed closely with 41 trades valued at N62.58 billion, while the May 2033 instrument accounted for the largest traded volume at N140.53 billion across 30 deals.
Yields across the bond curve remained broadly stable within the mid-to-high teen range. The 2031 bond closed at 17.95 per cent, while the 2037 issue settled at 18.15 per cent. At the longer end of the curve, the 2053 bond closed at 15.25 per cent, reflecting relatively stronger demand for long-dated instruments.
In the Treasury Bills segment, activity was concentrated in the June 17, 2027 maturity, which recorded 81 trades and turnover of N167.09 billion. The bill closed at a yield of 20.44 per cent after trading within a range of 19.38 per cent and 20.88 per cent.
The December 17, 2026 Treasury Bill also witnessed significant interest, recording 17 trades worth N21.64 billion and closing at 18.16 per cent. Another December 2026 bill attracted 11 trades valued at N19.99 billion and ended the session at 17.28 per cent.
Activity in 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 per cent. The September 22, 2026 OMO Bill also recorded notable activity, with N99.50 billion traded across 15 deals and a closing yield of 21.15 per cent.
Across the OMO curve, yields remained above the 20 per cent mark for most maturities, underscoring investors’ preference for high-yielding short-term instruments. The July 2026 OMO Bill closed at 21.76 per cent, while the August 2026 maturity settled at 20.79 per cent.
Meanwhile, the Sukuk segment saw relatively muted activity, with six trades worth N10 billion. The May 2032 Sukuk closed at a yield of 16.63 per cent.
Overall, the session reflected continued demand for government securities, particularly FGN bonds and longer-dated Treasury Bills, as investors sought to lock in attractive yields across the fixed income market.