THUR JULY 24 2025-theGBJournal| The FGN bonds yield fell while treasury bills yield stayed unchanged on Thursday amid bullish trade, and despite signs of economic recovery.
The FGN bond the average yield fell 9bps to 16.1% from 16.2%.
Across the benchmark curve, the average yield contracted at the short (-25bps) and mid (-6bps) segments, driven by the demand for the FEB-2028 (-55bps) and JUN-2033 (-12bps) bonds, respectively, but remained unchanged at the long end.
Similarly, the treasury bills average yield stayed unchanged at 17.7%
Across the curve, the average yield contracted at the short (-1bp), mid (-5bps) and long (-5bps) segments, driven by the demand for the 63DTM(-1bp), 182DTM (-32bps) and 210DTM (-44bps) respectively. Conversely, the average yield expanded by 1bp to 24.7% in the OMO segment.
The overnight lending rate contracted by 467bps to 27.0%, following inflows from FGN bond coupon payment (N348.14 billion).
Meanwhile, the official exchange rate strengthened by 0.3% to N1,534.90/US$ from N1,539.00/US$1.
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