WED SEPT 23 2026-theGBJournal| Nigeria’s banking system tightened further, with net liquidity settling at N2.86 trillion despite inflows from OMO repayments, as a significant portion of excess cash was absorbed through the Central Bank of Nigeria’s (CBN) Standing Deposit Facility.
The tighter liquidity pushed the overnight rate 3 basis points higher to 22.27 per cent. The Nigerian Overnight Financing Rate and Open Repo Rate were unchanged at 22.00 per cent.
In the Treasury bill market, trading was subdued but retained a bullish bias.
The average yield fell 1bp to 18.8 per cent, with yields declining across the short, mid and long segments. Demand was concentrated in the 86-day, 177-day and 352-day bills, each of which saw yields fall by 1bp.
The OMO market also firmed, with the average yield declining 1bp to 20.1 per cent.
Government bonds extended the gains. The average yield in the Federal Government bond market fell 2bps to 16.2 per cent, supported by buying interest in longer-dated securities.
Yields at the mid and long ends of the benchmark curve declined by 3bps each, led by the June 2033 and January 2042 bonds, whose yields fell 13bps and 12bps respectively. Short-dated bond yields were unchanged.
Nigeria’s Eurobond market also remained firm, with sustained demand across the curve nudging the average yield down to 7.04 per cent from 7.05 per cent in the previous session.
The moves point to continued demand for Nigerian fixed-income assets even as domestic banking-system liquidity remains relatively tight.
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