System Liquidity
Liquidity improved after ₦175bn FGN coupon and CBN inflows. OPR dropped 165bps to 26.85%, and O/N rate fell 202bps to 27.40%.
Treasury Bills
The market was mixed; 07-May NTB sold off, rising 5bps, while longer-dated OMO papers gained demand. Overall, NTB benchmark rate remained unchanged at 19.45% by session close.
FGN Bonds
Activity was muted ahead of April inflation data showing a decline to 23.71%. Light trading focused on Feb 2031 and May 2033 papers. Benchmark yield ended at 18.84%.
Eurobonds
Eurobonds fell on oil supply concerns from possible US-Iran deal. Nigeria’s curve weakened to 9.74% average yield, though late bargain hunting in select papers helped ease the overall selloff.
Nigerian Equities
ASI rose 37bps to 109,467.64, YTD return at 6.36%. Gains led by NESTLE and HONYFLOUR. Sector performance mixed; trading dominated by block crosses. MTNN topped value chart at ₦3.44bn.
Foreign Exchange
FX supply remained tight amid rising demand, prompting CBN intervention. USD/NGN traded between ₦1,597.10–₦1,604.00, closing at ₦1,599.33, down 16bps.
Commodities
Oil fell over 2% as US-Iran deal raised supply concerns—Brent at $64.62, WTI at $61.72. Gold rose 1.2% to $3,216.11 on weak U.S. data and rising safe-haven demand.
