The Central Bank of Nigeria (CBN) has announced a phased overhaul of the Nigerian Fixed Income Market aimed at boosting transparency, efficiency, and regulatory oversight.
In a memo, Okey Umeano, Acting Director of the Financial Markets Department, said the first phase of the reform will begin in November. At that stage, the CBN will assume full control of the settlement process and the trading platform for fixed income transactions. “This transition will enable the CBN to assume direct responsibility for the management of the trading platform and handle end-to-end settlement activities under the Bank’s established settlement system for financial market transactions,” the statement read.
The apex bank said the move is part of broader financial market reforms designed to strengthen market integrity, streamline operations, and create a unified regulatory framework that provides full visibility of fixed income transactions. The process will be carried out in stages to minimise disruption, with the cooperation of stakeholders such as the Financial Markets Dealers Association (FMDA).
Fixed income refers to investments where the borrower or issuer makes scheduled payments of a fixed amount.
Meanwhile, data shows that Nigeria’s broad money supply rose to N119.52 trillion in August 2025, up from N117.4 trillion in June and N107 trillion in August 2024. The figures highlight continued liquidity growth in the financial system despite persistent inflationary pressures and exchange rate instability.
