WED JUNE 17 2026-theGBJournal| Nigeria’s overnight lending rate rose by 3 basis points on Tuesday to 22.3% as liquidity conditions remained tight amid the absence of significant inflows into the banking system.
Trading in the Treasury bills secondary market turned bearish, with the average yield climbing 3 basis points to 17.8%.
Across the curve, yields at the short end declined by 3 basis points, supported by demand for the 79-day bill, whose yield compressed by 19 basis points.
However, profit-taking pressure pushed yields higher in the mid- and long-tenor segments, with the 93-day and 268-day bills advancing by 33 basis points and 38 basis points, respectively.
In contrast, sentiment in the Open Market Operations segment improved, driving the average yield down sharply by 73 basis points to 20.2%.
The Federal Government bond market traded on a firmer footing, with the average benchmark yield easing by 3 basis points to 16.5%.
Demand for shorter-dated paper drove yields at the short end lower by 30 basis points, led by the March 2027 bond, whose yield fell by 123 basis points.
Profit-taking in longer maturities, however, lifted yields in the belly and long end of the curve, with the June 2033 and March 2050 bonds rising by 57 basis points and 22 basis points, respectively.
Meanwhile, the naira weakened in the official foreign-exchange market, depreciating 0.4% to N1,356 per dollar, extending pressure on the local currency despite relatively stable conditions in fixed-income markets.
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