System Liquidity

Liquidity remained strong despite today’s ₦450bn NTB auction. OPR rose 8bps to 26.50%, while O/N dipped 4bps to 26.88%.

Treasury Bills

Trading was quiet as focus shifted to the ₦450bn NTB auction. Activity was limited, especially on the OMO curve, with the 20-Jan bill attracting the most interest. NTB benchmark mid-rate stayed flat at 19.40%.

FGN Bonds

Moderate trading with a bearish bias on Feb 2031s and May 2033s, which saw improved offers. Despite slight pressure, benchmark mid-yield held steady at 18.58%.

Eurobonds

Nigerian Eurobonds rallied alongside African peers amid geopolitical risks. Strong buying pushed average yields down 13bps to 9.08%, supported by resilient demand despite global trade and security concerns.

Nigerian Equities

The ASI gained 32bps to 112,781.73 as banking and energy stocks lifted sentiment. FIDELITYBK led volumes, GTCO led value. Market breadth was positive, though industrial names slightly lagged. YTD return rose to 9.58%.

Foreign Exchange

The Naira appreciated by 87bps to ₦1,565.46/$, driven by strong dollar inflows. The USD/NGN pair traded within ₦1,556.50–₦1,577.00.

Commodities

Oil dipped on higher U.S. fuel inventories and OPEC+ supply risks. Brent fell to $65.35, WTI to $63.33. Gold rose 1% to $3,373.06/oz, supported by a weaker dollar and soft U.S. data.