TUES OCT 06 2026-theGBJournal| The banking system strengthened on Monday, settling by N5.05 trillion net positive. This led to a decline in the Overnight (O/N) rate, which fell by 26bps to 20.54%.
This follows a decline of 18.90% week-on-week (w/w) to N4.85 trillion at the end of last week, from N5.98 trillion in the previous week
Open Repo rate also declined by 40bps to 20.00% while the Nigerian Overnight Financing Rate (NOFR) remained unchanged at 20%.
In the secondary market, average OMO yields declined by 94bps w/w to 18.82%, from 19.76% in the previous week.
The Treasury bill secondary market traded on a bullish note as average yield contracted by 3bps to 17.8%.
Across the curve, average yield contracted at the short (-2bps), mid (-2bps) and Long (-4bps) segments driven by demand for the 80DTM (-3bps), 171DTM (-3bps) and 353DTM (-3bps) bills.
Elsewhere, the average yield contracted by 6bps to 18.8% in the OMO segment.
The FGN bond secondary market traded on quiet note as the average yield remained unchanged at 15.6%.
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