WED JUNE 24 2026-theGBJournal| Nigeria’s overnight interbank lending rate rose 13 basis points to 22.3%, underscoring persistent liquidity pressures in the money market despite an estimated N2.93 trillion inflow from Federal Government bond coupon payments.
The increase in funding costs came as investors maintained a cautious stance, while activity in the Treasury bill market remained subdued with a mild bullish bias that pushed average yields marginally lower.
Trading in the Treasury bill secondary market was largely muted, although sentiment remained mildly bullish. Average yields declined by one basis point to 18.2% as investors selectively accumulated securities across the curve.
Demand at the short end compressed yields by one basis point, supported by buying interest in the 86-day bill.
Similar demand dynamics were observed in the mid-segment, where yields on the 177-day paper declined by one basis point, while appetite for the 359-day instrument drove a comparable one-basis-point drop at the long end of the curve.
The Open Market Operations (OMO) segment mirrored the Treasury bill market, with average yields easing by one basis point to 21.1% amid modest buying interest.
Meanwhile, trading in the Federal Government bond secondary market was subdued.
Average yields held steady at 16.7%, reflecting balanced positioning among investors following the recent auction and the impact of coupon inflows, with market participants largely awaiting fresh catalysts for direction.
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