System Liquidity
Interbank liquidity stayed robust, opening at ₦1.365 trn and closing at ₦1.248 trn, buoyed by ₦259 bn bond coupons and CBN inflows, offsetting ₦804.85 bn OMO auctions. OPR 26.50%, O/N 26.83%.
Treasury Bills
Trading began subdued, then short-to-mid tenors saw bullish demand post-OMO auction. CBN allotted ₦804.85 bn (₦556.85 bn oversubscription). Stop rates at 22.69%/22.73%; NTB average yield rose 12 bps to 19.57%.
FGN Bonds
Quiet early week ahead of ₦350 bn auction. DMO allotted ₦397.89 bn (Apr-29 at 19.00%, May-33 at 19.99%). Mid-curve demand in Feb 2031; benchmark yield fell 7 bps to 18.69%.
Eurobonds
Sub-Saharan Eurobonds were volatile. Early Angola-led gains faded on weaker oil and U.S. Q1 GDP contraction (–0.3%). U.S. jobs data improved sentiment, yet Nigerian yields rose 43 bps to 10.42%.
Nigerian Equities
Equities gained 27 bps to 106,042.57, driven by Q1 earnings from BETAGLASS, PRESCO, NB, CADBURY, MTNN. Banking sell-offs in GTCO/ETI offset gains. NB, FIDELITYBK, NAHCO, INTBREW, BETAGLASS hit 52-week highs.
Foreign Exchange
Interbank FX traded between ₦1,580–1,603.50, supported by CBN and exporter inflows. Naira closed at ₦1,602.18, depreciating 16.5 bps w/w. CBN sold ~$116 m; reserves rose to $37.93 bn.
Commodities
Oil fell over 1%, marking largest weekly loss since March, on OPEC+ concerns and trade-war demand fears. WTI at $58.29, Brent at $61.29. Gold slipped 0.4%, down 2.6% weekly.
