Open Market Operation (OMO) Bills accounted for the largest share of turnover in Nigeria’s fixed income secondary market on Monday, June 8, 2026, as investors continued to position in short dated instruments amid prevailing yield opportunities.
Data from the Fixed Income Dashboard showed that total market turnover stood at N882.35 billion across 346 trades, with OMO Bills contributing N655.88 billion, representing about 74 per cent of total transaction value.
Treasury Bills followed with N74.86 billion, while FGN Bonds recorded N121.61 billion and Sukuk transactions amounted to N30 billion.
The market recorded participation from 27 investors, with Treasury Bills attracting the highest trading activity at 132 deals, marginally ahead of OMO Bills which posted 127 trades. FGN Bonds accounted for 81 transactions, while Sukuk recorded six trades.
Analysis of OMO Bills transactions showed that with N202.25 billion, the July 28, 2026 instrument was the most actively traded security by volume, while the June 23, 2026 OMO Bill attracted N100 billion in transactions. Yields on OMO Bills remained elevated, with weighted average yields ranging between 18.38 per cent and 21.68 per cent across maturities.
In the Treasury Bills segment, investors concentrated on medium dated instruments. The September 24, 2026 bill recorded N16 billion in trades across 32 deals, while the June 3, 2027 instrument attracted N13.16 billion from 22 transactions. Treasury Bill yields closed between 16.02 per cent and 19.48 per cent depending on tenor.
The bond market also witnessed strong activity in longer dated instruments. The April 18, 2037 FGN Bond led trading with N44.6 billion in volume across 13 deals, followed by the January 29, 2035 bond which recorded N37.54 billion from 18 transactions. Bond yields closed largely within the 16.70 per cent to 17.50 per cent range.
Meanwhile, the Sukuk segment recorded N30 billion worth of transactions from six deals, with the October 2033 Sukuk closing at a yield of 14.80 per cent.
Market analysts said the strong appetite for OMO Bills reflects investors’ preference for high yielding short term instruments as they seek to lock in attractive returns amid expectations of sustained monetary tightening and elevated interest rates.
