System Liquidity
The MPC held all policy rates unchanged. Liquidity improved via ₦1.14 trillion OMO maturities, prompting a ₦500 billion OMO auction, which saw strong demand. Interbank rates stayed stable with OPR and O/N rates at 26.50% and 26.95%.
Treasury Bills
The T-bills market stayed quiet due to the ₦500 billion OMO auction at 182-day (23.77%) and 210-day (23.98%) tenors. Some trades occurred on long-end papers, while the NTB mid-rate declined 9bps to close at 19.66%.
FGN Bonds
The bond market was largely inactive with limited interest in mid-tenor papers—Mar 2027, Feb 2031, May 2033, and Jan 2035. The benchmark mid-yield closed nearly flat at 18.87%.
Eurobonds
African Eurobonds remained steady following cautious optimism from Fed remarks. Nigeria’s curve outperformed slightly, with yields tightening 6bps to 9.64%, as early-session gains gave way to a stable close across most sovereign papers.
Nigerian Equities
Equities closed mildly positive; ASI rose 3bps to 109,730.47 (YTD: +6.61%). Sector performance was mixed—Consumer Goods surged, Oil & Gas dropped, and Banking declined. Market breadth was slightly negative, but value traded increased by 16.09% to $8.29m.
Foreign Exchange
The Naira appreciated, supported by improved dollar supply from CBN intervention. The USD/NGN pair traded within ₦1,560–₦1,591 band.
Commodities
Oil prices remained flat amid geopolitical uncertainty and weak Chinese data. Brent dropped to $65.38, WTI to $62.56. Gold rose 1.7% to $3,284.74, driven by dollar weakness, equity losses, and increased safe-haven demand on global risks.
