TUE FEB 10 2026-theGBJournal| Treasury bills and FGB Bonds closed with a bullish tone on Monday, amid sustained offshore investors’ interest.
The average yield contracted by 8bps to 17.6%.
Across the curve, the average yield contracted at the short (-21bps) and mid (-6bps) segments due to the demand for the 45DTM (-88bps) and 101DTM (-22bps) bills, respectively but remained unchanged at the long end.
Likewise, the average yield contracted by 2bps to 21.8% in the OMO segment.
So far, the average NTB yield has fallen by 60 bps w/w to 17.62% p.a., with notable interest in the mid and long tenors. Conversely, the OMO segment saw average yields rise by 24 bps w/w to 21.74% p.a.
Elsewhere, The FGN bond secondary market mirrored the bullish sentiment in the NTB space, though driven largely by sustained offshore investors’ interest.
The average yield remained unchanged at 16.1%. Across the benchmark curve, the average yield compressed at the short (-1bp) end, due to buying interest on the APR-2029 (-5bps) bond but remained unchanged at the mid and long segments.
The overnight lending rate remained unchanged at 22.8%, despite inflows from FGN bond coupon payments (N154.23 billion).
System liquidity shifted decisively to a net positive position of N2.57 trillion as at Friday last week, a significant improvement from the prior week’s deficit of N241.96 billion.
This influx was primarily driven by N1.03 trillion in maturing OMO bills. As a result, interbank rates trended lower; the OPR declined to 22.50% from 26.07%, and the OVN rate fell to 22.81% from 26.36%. The call repo rate also edged lower to 6.33% from 6.50%.
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