System Liquidity

Liquidity rose 56.51% (₦2.46trn) to ₦6.81trn from ₦4.35trn, on a ₦2.48trn OMO maturity inflow and ₦4.11trn of DMB placements at the SDF window. The Overnight Rate still edged 1bp higher to 22.10%, with NOFR and OPR flat at 22.00%.

Treasury Bills

The secondary market turned bearish ahead of the NTB auction, with selling in the 17-Dec-26 (+59bps), 07-Jan-27 (+34bps) and 05-Nov-26 (+21bps) bills against demand for the 08-Jul-27 (-7bps) paper. Average yields rose 5bps to 18.14%, with ₦700bn on offer across the 91-, 182- and 364-day tenors.

FGN Bonds

Mixed with a bearish tilt as the mid-curve repriced — the 2035, 2036, 2037 and 2038 papers rose 10bps, 11bps, 9bps and 23bps to 17.29%–17.40%, and the Mar-27 bond spiked 133bps to 18.46%, while Jul-45 firmed 10bps to 15.40%. The average yield closed 6bps higher at 16.88%.

Eurobonds

Short-end buying was outweighed by profit-taking further out, leaving average yields 3bps higher at 6.96%, with the 2028 (+12bps) and 2027 (+10bps) maturities repricing most. Caution persisted with the U.S. 10-year near 4.69% ahead of U.S. inflation data.

Nigerian Equities

The ASI and market cap both fell 0.73% to 246,723.57 and ₦159.26trn on profit-taking in MTNN, DANGSUGAR, GTCO and NB, yet activity surged — volume up 243.77% and value up 19.85% at 3.91bn units worth ₦32.38bn, with FTGINSURE at 84.27% of volume. Breadth was even at 27 gainers vs 27 losers, with Consumer Goods -0.96% and Banking -0.46% offsetting Insurance +0.24%.

Foreign Exchange

The naira depreciated 35bps (₦4.76) to ₦1,364.90/$ officially on firmer demand, while holding at ₦1,420.00/$ in the parallel market. External reserves rose US$83.81mn to US$52.14bn as of 10 August 2026.

Commodities

Gold slipped 0.45% to $4,370.40/oz off a two-month high as investors awaited U.S. CPI. Oil stayed bullish, with Brent up 1.64% to $89.16/bbl and WTI up 1.60% to $83.44/bbl on Strait of Hormuz supply risk.