In Nigeria’s secondary market, investor interest in Treasury bills remains high due to attractive yields across all maturities—short, mid, and long term.
On Tuesday, average yields on Treasury bills dipped slightly to 24% as investors took positions across different maturities. The high borrowing rates continue to attract investors, despite rising inflation.
Another factor supporting this increased activity is improved liquidity within the financial system. Investors are looking for profitable places to park their funds rather than keeping cash idle.
According to separate reports from fixed-income analysts, Tuesday’s market activity showed a bullish trend, driven by ample liquidity. Analysts from AIICO Capital noted that investors showed strong interest in Treasury bills maturing in January, April, May, and October 2025.
As a result, the average mid-rate for Treasury bills declined by 18 basis points, with decreases seen across the short (-1 bp), mid (-2 bps), and long (-2 bps) ends of the curve.
This drop in yields was driven by demand for bills nearing maturity, particularly those with 86-day, 177-day, and 331-day terms, which saw yield reductions of 1 to 2 basis points.
Similarly, in the OMO bills segment, the average yield fell by 2 basis points to 26%, as reported by Cordros Capital.
