Mixed Foreign Trade Performance as Imported Refined Oil Dip During the week, the National Bureau of Statistics published the Nigeria Foreign Trade data for Q3-2025. According to the data, the Nigeria balance of trade in Q3-2025 fell by 10.4%q/q but rose by 27.3% y/y to ₦6.7 trillion, compared to ₦7.5 trillion in Q2-2025 and ₦5.3 […]

Service Sector Led Nigeria Q3’25 Economic Expansion During the week, the National Bureau of Statistics (NBS) published one of the major economic indication data, Gross Domestic Product (GDP) for the third quarter (Q3) of 2025. According to the report, Nigeria’s economy expanded by 3.98%y/y in Q3’25 to ₦57.0 trillion from ₦54.9 trillion in Q3’24. Although, […]

System Liquidity System liquidity stayed strong, supported by ₦1.11tn OMO maturity inflow and sustained SDF placements, despite ₦583.5bn bond auction outflow. Funding rates declined sharply as OPR fell to 22.50% and OVN to 22.71%. Treasury Bills The NTB market traded volatile but ended bullish as strong liquidity drove increased demand. Yields declined 11bps w/w to […]

System Liquidity System liquidity stayed broadly stable as inflows from maturities and DMB placements offset heavy OMO and NTB settlements, ending the week at ₦1.3tn with funding rates slightly lower w/w. Treasury Bills The NTB market traded mildly bullish, with strong liquidity keeping yields largely stable and ending the week 5bps lower at 15.67%. FGN […]

System Liquidity System liquidity remained robust, rising from ₦3.8 trillion to a mid-week peak of ₦5.90 trillion. Despite, average funding costs went slightly higher by 7bps with OPR at 24.50% and overnight at 24.92%. Treasury Bills The NTB market traded bullish throughout the week as strong system liquidity and sustained demand pushed yields sharply lower, […]

System Liquidity System liquidity strengthened from ₦3.1 trillion to ₦5.0 trillion before closing at ₦3.9 trillion, supported by ₦1.4 trillion OMO maturities and steady DMB placements, with the OPR flat at 24.50% and O/N rate easing 7bps to 24.79%. Treasury Bills The NTB market ended mildly bullish on strong liquidity, with average benchmark yield falling […]

System Liquidity Interbank system liquidity remained broadly stable throughout the week, supported by continuous DMB placements at the CBN’s SDF window and coupon inflows from FGN bonds, while funding rates ended slightly higher, with the OPR steady at 24.50% and the overnight rate rising marginally to 24.86%. Treasury Bills The NTB secondary market traded mixed […]

System Liquidity The money market remained largely stable this week, with system liquidity rising from ₦810.33 billion to ₦3.12 trillion, supporting lower short-term rates as the OPR fell to 24.50% and the Overnight Rate to 24.83% despite brief outflows from OMO and NTB auctions. Treasury Bills The NTB secondary market traded mixed but mildly bearish […]

System Liquidity System liquidity remained broadly stable but ended slightly lower at ₦1.80 trillion compared to the previous week, despite inflows from FGN bond coupons and OMO repayments, while funding rates inched up modestly, with the average rate rising 7bps to 24.81% and OPR and O/N rates also ticking higher. Treasury Bills The NTB secondary […]

System Liquidity The interbank market remained stable during the week, supported by strong system liquidity despite large OMO outflows, with funding rates largely unchanged as the OPR held at 24.50% and the O/N rate inched up to 24.97% w/w. Treasury Bills The NTB market traded bullish throughout the week, as strong system liquidity and persistent […]