Nigerian central bank bills attract 3.56 trillion nairas
By the AFREEQUE newsroom, based on ThisDay
Bills issued by the Central Bank of Nigeria under its open market operations (OMO) attracted 3.56 trillion nairas in the first five trading days of November, according to fixed-income market dashboard data reported by Nigerian media outlet ThisDay. These instruments accounted for 48.3% of the 7.37 trillion nairas traded across all government securities between 1 and 6 November.
Federal Government of Nigeria (FGN) bonds follow with 2.29 trillion nairas across 702 transactions, or 31.1% of the total. Ordinary Treasury bills reached 1.50 trillion nairas in 421 operations, while sukuk, bonds compliant with the principles of Islamic finance, mobilised only 13.85 billion nairas across eight transactions. The four categories of securities recorded 1,897 transactions in total.
Activity remains concentrated among a limited number of participants: 26 in total, including 23 on OMO bills and on Treasury bills, 19 on federal bonds and only two on sukuk.
Closing yields remain high on short maturities, at 20.08% for the shortest, before falling to 18.52% on the next maturity, then stabilising around 16% across several intermediate maturities. They drop to 15.41% at 19 years and 14.59% at 23 years, before rising to 15.01% at 27 years.{},
