System Liquidity

Liquidity eased 5.02% (₦341.79bn) to ₦6.47trn from ₦6.81trn, despite ₦330.65mn of coupon inflows and a 49.58% jump in SDF placements to ₦6.14trn. The Overnight Rate held at 22.10%, with NOFR and OPR unchanged at 22.00%.

Treasury Bills

Trading was active and bullish around the NTB auction outcome, with demand on the OMO curve (September and December maturities) and the 17-Sep and 4-Feb NTBs. All quoted maturities compressed 1bp, taking the average yield down to 18.13% from 18.14%.

FGN Bonds

Activity was calm and centred on the 2031s, 2033s and 2035s, with yields largely stable. The 2033s rose 7–8bps and the 2034s, 2035s and 2037s by 11–13bps, lifting the average yield 2bps to 16.90% from 16.88%.

Eurobonds

Sovereign Eurobonds traded mixed with a slight bullish bias, helped by a softer-than-expected U.S. CPI print but capped by elevated Treasury yields. The 2031s shed 3bps while the 2029s (+5bps), 2033s (+4bps) and 2038s (+2bps) rose and the 2047s/2049s tightened 1bp each, leaving the average yield flat at 6.96%.

Nigerian Equities

The NGX-ASI fell 1.12% to 243,967.09 and market cap 1.11% to ₦157.49trn, hit by the listing of 9.24bn Lasaco Assurance shares and profit-taking. Volume dropped 62.78% and value 35.35% to 1.46bn shares worth ₦20.94bn across 39,085 deals, with FTGINSURE at 58.68% of volume and FIRSTHOLDCO at 18.73% of value.

Foreign Exchange

The naira appreciated 32bps (₦4.32) to ₦1,364.90/$ officially, reversing the prior session’s loss, while weakening to ₦1,424.00/$ in the parallel market and widening the spread. Reserves rose US$30.79mn to US$52.17bn as of 11 August 2026.

Commodities

Gold gained 0.84% to US$4,408.59/oz, a more-than-two-month high, on in-line U.S. inflation data and a weaker dollar. Brent rose 0.64% to US$89.60/bbl and WTI 0.94% to US$83.90/bbl on Middle East supply risks and the Strait of Hormuz deadlock.