System Liquidity

The interbank market was quiet with no significant funding movements. Liquidity remained stable, keeping the OPR and O/N rates unchanged at 26.50% and 27.00%, respectively.

Treasury Bills

Bullish demand persisted, targeting September to June bills. June maturities traded near 17.50%, while December and March OMO papers saw interest. Benchmark NTB yields declined 9bps to 18.14%.

FGN Bonds

Strong demand across key maturities like May 2033 and Feb 2034 drove a bullish session. Lower offers, especially on 2033s, pushed average yields down 31bps to 17.25%.

Eurobonds

Despite upbeat U.S. jobs data reducing July rate cut hopes, Nigerian Eurobonds posted modest gains. Uneven labor market details supported cautious Fed outlook. Yields dropped 4bps to 8.56%.

Nigerian Equities

The ASI rose 53bps to 120,977.20 points on broad gains across 54 stocks. Banks and consumer stocks led advances. Value traded surged 141% to $19.18m, boosted by a SEPLAT cross and GTCO’s $100m capital raise.

Foreign Exchange

The Naira appreciated slightly by 2bps to ₦1,525.82/$ amid steady dollar inflows. Trading was active within the ₦1,524.50–₦1,527.50 band. FX reserves dipped $14.24m to $37.18bn.

Commodities

Oil fell on tariff worries and expected output hikes; Brent at $68.55, WTI at $66.75. Gold dropped 0.9% to $3,328.63/oz on strong U.S. jobs data reducing Fed rate cut expectations.