System Liquidity

Interbank liquidity remained strong despite DMBs’ tax outflows. Rates held steady, with the OPR at 26.50% and the O/N rate inching up by just 4bps to 27.00%, supported by healthy system liquidity.

Treasury Bills

Bullish sentiment dominated the NTB market, driven by strong liquidity. Demand focused on both benchmark and OMO bills, especially March and June maturities. Average benchmark NTB yields declined 13bps to 18.23%.

FGN Bonds

Bond market remained bullish, with investors targeting high-yield long-dated bonds like the Feb 2031s, 2033s, and 2053s. Increased demand drove average mid-yields down 14bps to 17.55%.

Eurobonds

Eurobond trading was mixed. U.S. trade optimism and weak ADP jobs data raised hopes for Fed rate cuts. Nigerian bonds closed flat at 8.60%, with markets awaiting the official U.S. jobs report for direction.

Nigerian Equities

The ASI rose 50bps to 120,339.90, driven by strong breadth (61 gainers vs. 15 losers). Consumer and industrial stocks led the gains, while Oil & Gas lagged. Value traded rose 7.95%, fueled by blocks in WEMABANK and NB.

Foreign Exchange

The Naira appreciated by 22bps to ₦1,526.16/$ on stronger dollar inflows. Trading was active within a ₦1,524–₦1,532 range. FX reserves remained steady at c.$37.21 billion.

Commodities

Oil gained 2.2% after Iran halted nuclear cooperation and the U.S. struck a Vietnam trade deal. Gains were capped by rising U.S. inventories. Gold rose 0.3% to $3,348.60/oz on weak jobs data and rate-cut expectations.