…At Primary Market Auction (PMA), the DMO is set to offer N290 billion across the standard maturities
MON JULY 21 2025-theGBJournal| The FGN bond secondary market were lower on Monday as investors anticipate the outcome of the Central Bank of Nigeria (CBN) Monetary Policy Committee’s (MPC) decision on interest rate.
The average yield fell 8bps to 16.3% alongside the drop at the mid (-36bps) and long (-3bps) segments of the market, driven by the demand for the APR-2032 (-63bps) and JAN-2042 (-16bps) bonds, respectively.
However, yield expanded at the short (+14bps) end, driven by the selloff of the JAN-2026 (+34bps) bond.
The overnight lending rate expanded by 16bps to 32.8%, despite inflows from FGN bond coupon payment (N89.84 billion).
At the Treasury bills market, yield contracted by 5bps to 17.2%.
Across the curve, the average yield contracted at the short (-2bps), mid (-3bps) and long (-9bps) segments, driven by the demand for the 66DTM (-3bps), 171DTM (-6bps) and 248DTM (-33bps) bills, respectively.
Similarly, the average yield contracted by 6bps to 24.6% in the OMO segment.
Meanwhile, at Primary Market Auction (PMA), the DMO is set to offer N290 billion across the standard maturities.
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