FRI OCT 30 2026-theGBJournal| Nigeria’s financial markets delivered a mixed performance on Thursday, as tighter banking system liquidity pushed overnight funding costs higher, while sustained profit-taking drove domestic bond yields upwards.
The Banking system contracted further, settling at ₦7.86 trillion net positive.
As a result, Overnight (O/N) rate increased by 3bps to close at 20.38%. Open Repo rate and Nigerian Overnight Financing Rate (NOFR) remained unchanged at 20.00%.
Profit taking persisted in the FGN bond market, weakening demand across all boards. Yields increased by 46bps in the short term, 2bps in the mid term and 16bps in the long term.
Consequently, this pushed average yield higher to 15.43% from 15.37% in the previous session.
Meanwhile, the Nigerian Treasury Bills (NTB) saw a muted performance after a bullish trade in the previous session. Hence, average yield held at the previous session close at 17.91%.
Elsewhere, the Nigerian Eurobond performance strengthened for the fourth consecutive day this week as buying activity continued across the curve, as average yield decreased by 8bps, settling at 7.26% compared to 7.34% at the previous session.
This diverges from the performance in the US 10-year treasury yields which climbed to 5.02% at the time of writing after a muted performance in the previous session.
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