In August, a type of investment called Open Market Operation (OMO) bills was very popular in Nigeria's fixed-income market, making up about 72% of the total N36.52 billion traded. According to the Central Bank of Nigeria, there were 9,187 trades involving different types of investments, including OMO bills, Treasury bills, FGN Bonds, and Sukuk. OMO bills led the market with 4,032 trades worth N26.19 billion. This amount was significantly higher than Treasury bills, which had 2,666 trades valued at N5.69 billion, and FGN Bonds, which recorded 2,471 trades worth N4.59 billion. Sukuk had the least activity, with only 18 trades totaling N40.11 million. Even though OMO bills had the highest value traded, Treasury bills and FGN Bonds combined had more transactions. Both of these types of investments had 5,137 trades together, compared to 4,032 for OMO bills. The yield, or return on investment, for OMO bills was also higher at 22.67%, while Treasury bills and FGN Bonds had lower yields, mostly between 16% and 17%. Overall, the data shows that OMO bills were the most traded and valued investments in August, indicating a strong preference for this short-term investment option among traders, even though other types of investments were still actively traded.
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