System Liquidity

System liquidity opened strongly at ₦7.78 trillion, representing a ₦3.25 trillion increase day-on-day, driven mainly by ₦1.63 trillion in OMO maturities and sustained SDF placements of ₦5.26 trillion. Despite the ample liquidity, the Nigerian Overnight Financing Rate (NOFR) remained unchanged at 22.00%.

Treasury Bills

The NTB secondary market was largely inactive, with no trades recorded across the curve as investors remained focused on primary market opportunities, particularly the 364-day tenor. Yields closed flat across maturities, leaving the average benchmark yield unchanged at 16.06%.

FGN Bonds

The FGN bond market traded on a quiet to mildly bearish tone, with activity concentrated in the mid-curve amid subdued investor participation. The 2029 and 2031 bonds saw yield increases of 10 bps and 15 bps, respectively, while the average benchmark yield edged higher by 1bp to close at 15.76%.

Eurobonds

Nigeria’s sovereign Eurobonds traded on a mixed to bearish note, pressured by rising oil prices and geopolitical uncertainty linked to U.S.–Iran tensions and OPEC-related developments. Yields rose across most maturities, pushing the average benchmark yield up by 3bps to 6.91%, with the SEP-2028 bond the lone gainer.

Nigerian Equities

The equity market rebounded strongly as the ASI gained 5,137.90 points to close at 228,740.19, lifting market capitalization by ₦3.31 trillion to ₦147.28 trillion. Industrial Goods and Oil & Gas led gains, while trading activity improved significantly, with total value traded rising to ₦68.24 billion.

Foreign Exchange

The naira weakened modestly at the NFEM, depreciating by 121bps to close at ₦1,380.71/$ amid persistent demand pressures. External reserves declined by $48.03 million to $48.39 billion, reflecting continued CBN intervention in the FX market.

Commodities

Oil prices remained elevated as Brent rose 2.83% to around $111.18 per barrel and WTI gained 3.73% to $99.96, supported by Middle East supply disruptions despite OPEC-related developments. In contrast, gold prices declined sharply, with spot gold falling 2.08% to approximately $4,594.59/oz amid inflation concerns and cautious investor sentiment.