WED OCT 28 2026-theGBJournal| The Banking system strengthened significantly, settling at ₦9.35 trillion net positive for the first time this year due to influx from primary market repayment and OMO repayment.
As a result, Overnight (O/N) rate decreased by 43bps to close at 20.38%. Open Repo rate and Nigerian Overnight Financing Rate (NOFR) remained unchanged at 20.00%.
The FGN bond market closed In the red for a second consecutive trading session this week, weakening demand mainly across the short board.
The most notable change was on the 17-Mar-27 yield, which increased by 82bps.
Overall, average yield increased by 3bps, settling at 16.38% compared to 16.35% previous session.
Positive sentiment resumed in the Nigerian Treasury Bills (NTB) as buying activity was persistent across most bills. With that, average yield reduced by 1bps, to close at 17.92% from 17.93% in the previous session.
Elsewhere, the Nigerian Eurobond performance strengthened across the curve, as average yield decreased mildly by 1bps, settling at 7.42% compared to 7.43% at the previous session.
This diverges from the performance in the US 10-year treasury yields which climbed to 5.00% at the time of writing amid mounting sell pressure.
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