System Liquidity

System liquidity opened with a surplus of ₦596.46 billion after recovering from a previous deficit. The improvement was driven by strong placements at the CBN SDF window and primary market inflows, while SLF borrowings partly offset the gains. Funding costs eased as OPR and OVN rates declined.

Treasury Bills

The NTB market was quiet with low trading activity, keeping rates unchanged across all maturities. Investors stayed on the sidelines, resulting in a flat average benchmark rate of 16.72%.

FGN Bonds

The FGN bond market traded calmly to mildly bullish, with selective buying interest at the mid-to-long end offsetting muted activity elsewhere. Yield movements were mixed, with slight compression at several mid-curve maturities nudging the average benchmark yield down 7bps to 16.64%

Eurobonds

African Eurobonds traded positively as strong buying interest overshadowed global risk off sentiment. Nigerian Eurobond yields fell across short , mid , and long tenor papers, pushing the average benchmark yield down to 7.05%.

Nigerian Equities

The Nigerian Exchange closed marginally higher, with the ASI rising by 1bps and YTD return reaching 6.3%. Market sentiment was mixed, with notable gainers and decliners, while trading activity was concentrated in TANTALIZER by volume and ZENITHBANK by value.

Foreign Exchange

The Naira weakened by 27bps to ₦1,390.36/$ due to stronger demand pressures, trading within a band of ₦1,381/$ to ₦1,396/$. External reserves increased to $46.18 billion following a moderate day on day addition.

Commodities

Oil prices declined sharply, with Brent falling to $66.14/bbl and WTI to $61.91/bbl following easing geopolitical tensions, a stronger dollar, and milder weather expectations. Gold also recorded significant losses due to increased margin requirements and recent volatility in metals markets.