WED NOV 11 2026-theGBJournal| Nigeria’s overnight lending rate rose by 7 basis points to 20.3%, following liquidity withdrawals of N2.30 trillion associated with the Central Bank of Nigeria’s Open Market Operations (OMO) Primary Market Auction (PMA), reflecting tighter conditions in the money market.
In the Treasury bills secondary market, trading activity remained relatively subdued but maintained a bullish bias, with the average yield declining by 1 basis point to 17.8%, supported by investor demand across the yield curve.
A breakdown of market performance showed that average yields contracted by 1 basis point across the short-, mid- and long-term segments.
Buying interest was particularly evident in the 86-day-to-maturity (DTM), 177DTM and 219DTM bills, whose yields declined by 1 basis point, 1 basis point and 10 basis points, respectively.
Similarly, the Open Market Operations (OMO) bills segment sustained its bullish momentum, with the average yield falling by 3 basis points to 18.6%, reflecting continued investor appetite for higher-yielding short-term government securities.
In the Federal Government of Nigeria (FGN) bonds secondary market, sentiment also remained positive, as the average yield declined by 1 basis point to 16.1%, driven primarily by demand at the long end of the curve.
Long-dated bonds recorded a 2-basis-point contraction in average yields, supported by notable buying interest in the April 2037 (APR-2037) bond, whose yield fell by 16 basis points.
Meanwhile, yields at the short and mid segments remained unchanged, indicating relatively stable trading conditions across those tenors.
Overall, the fixed-income market maintained a bullish bias, with demand for Treasury bills, OMO bills and selected long-dated government bonds driving modest yield compression, despite tighter overnight liquidity conditions following the latest OMO-related debits.
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