OMO Bills Attract N3.56tn as Fixed-income Turnover Hits N7.37tn
Nume Ekeghe Open Market Operations (OMO) bills accounted for almost half of transactions in Nigeria’s fixed-income market in the first five trading days of November, attracting N3.56 trillion as total
In the first five trading days of November, Nume Ekeghe reported that Open Market Operations (OMO) bills accounted for nearly half of all transactions in Nigeria's fixed-income market. These bills attracted a total of N3.56 trillion in trades, which constituted 48.3 percent of the N7.37 trillion total turnover in major government securities.
OMO bills were the most actively traded instruments during this period, with 766 trades recorded between November 1 and November 6. This was followed by Federal Government of Nigeria (FGN) bonds with N2.29 trillion in transactions from 702 trades and Treasury bills with N1.50 trillion in trades from 421 trades. Sukuk securities recorded the lowest turnover, with N13.85 billion from just eight transactions.
The dashboard recorded a total of 1,897 trades across the four security categories during the six-day period, with OMO bills leading in value and number of transactions, followed by Treasury bills and FGN bonds. The yield data showed relatively high returns across several maturities, with the shortest tenor recording 20.08 percent and the longer tenors ranging from 14.59 percent to 15.01 percent.
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