System Liquidity
Interbank liquidity remained ample with no major funding pressures. Consequently, the OPR and O/N rates held steady at 26.50% and 26.96%, respectively.
Treasury Bills
Activity was muted in NTBs, though long-dated OMO bills—especially the 7-May 2026—drew selective interest. Wide bid/ask spreads constrained volumes. Overall, benchmark NTB mid-yields rose 29bps week-on-week, closing at 19.74% amid low market momentum.
FGN Bonds
The bond market was quiet with a slightly bearish tone. Investor focus centered on mid-to-long tenors—Feb 2031, May 2033, and Feb 2034—though limited trading occurred. The average benchmark mid-yield closed marginally higher at 18.82%.
Eurobonds
Moody’s downgrade of U.S. debt spurred early Eurobond selloffs, but late bargain hunting reversed losses. Nigerian Eurobonds strengthened slightly, with yields tightening by 5bps to close at an average of 9.69%.
Nigerian Equities
Nigerian equities closed flat, with the ASI down 1bp to 109,697.83. Gains in DANGSUGAR, TRANSCORP, and NNFM offset losses in TRANSCOHOTEL and TIP. Market breadth was positive, trading volume rose 32%, and sector performance was mixed overall.
Foreign Exchange
The Naira appreciated slightly to ₦1,598.6885/$ as NFEM trading stayed within ₦1,580–₦1,601.50. Improved FX liquidity balanced increased demand, keeping the pair stable.
Commodities
Oil prices were flat amid Moody’s U.S. downgrade and weak Chinese data, signaling demand concerns. Brent dipped 1 cent to $65.39, WTI rose 9 cents to $62.58. Meanwhile, gold rose 0.9% to $3,229.69 on safe-haven demand.
