System Liquidity

Liquidity improved from OMO maturities, keeping interbank rates stable. The OPR eased 8bps to 26.42%, while the O/N rate dipped 2bps to 26.92%.

Treasury Bills

Trading remained muted with selective interest in mid-to-long tenors (Nov, Dec, May). Overall sentiment was quiet, and the NTB benchmark mid-rate closed flat at 19.40%.

FGN Bonds

Activity was subdued, focused on May 2033 bonds trading around 19.50%-19.55%. Market direction was flat, with the benchmark yield holding steady at 18.58%.

Eurobonds

Nigerian Eurobonds outperformed, tightening 13bps to 9.21% amid strong U.S. job data. Positive sentiment persisted despite global trade concerns, with investors awaiting U.S. May employment numbers.

Nigerian Equities

The ASI rose 0.37% to 112,427.48 on gains in DANGCEM, GTCO, and FIRSTHOLDCO. Market breadth was positive; all sectors except Oil & Gas advanced. Turnover surged, with FIDELITYBK and GTCO leading trades.

Foreign Exchange

The naira appreciated by 15bps to ₦1,579.28/$ at NAFEM, supported by improved dollar supply. The USD/NGN pair traded within a narrow ₦1,577–₦1,582 band.

Commodities

Oil climbed ~2% on geopolitical risks and extended sanctions talk. Brent hit $65.74, WTI $63.69. Gold dipped 1% to $3,346.96/oz, pressured by dollar strength ahead of a possible U.S.-China call.