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The average yield on Nigerian Treasury bills declined in the secondary market ahead of the inflation report for the month of June, which is scheduled to be released. The market expects the inflation rate to slow down in the month due to base effects. Investors and authorised dealers increased buying interest in the fixed income market following the apex bank auction on Wednesday.

The average yield on Nigerian bonds climbed as investors reduced their holdings amidst uncertainties in the economy. Traders said the average yield expanded by 5 basis points to 18.98% as pension asset managers, investors adjusted their portfolios.