System Liquidity
Liquidity remained positive despite OMO settlement pressure, keeping interbank rates stable. The Overnight Policy Rate held at 26.50%, while the Overnight (O/N) rate dipped slightly by 5bps to 26.90%.
Treasury Bills
The T-bills market was quiet, with limited trades in 16-Dec-2025 and 10-Mar-2026 OMO papers. Investor focus remained on the NTB auction. Benchmark NTB mid-rate eased 12bps to 19.54%.
FGN Bonds
Bond market activity remained subdued, focused mainly on mid-tenor papers—Feb 2031 and May 2033. Only a few trades occurred, reflecting investor caution. The session closed with the benchmark mid-yield unchanged at 18.87%.
Eurobonds
Eurobonds opened weak on geopolitical concerns about Israel-Iran tensions despite rising oil prices. Global risks outweighed typical oil-bond linkages. Bargain hunting supported Nigerian papers by session close, tightening average mid-yields 5bps to 9.57%.
Nigerian Equities
The ASI fell 10bps to 109,619.10 points, trimming YTD returns to 6.50%. Mixed market breadth saw 29 gainers vs. 27 losers. Banking, Oil & Gas, and Industrial indices fell, while Consumer Goods rose. Cautious sentiment prevailed amid profit-taking.
Foreign Exchange
The Naira appreciated for another session, supported by strong liquidity and low volatility. The USD/NGN pair traded between ₦1,582.50 and ₦1,590.00, closing stronger at ₦1,584.4966.
Commodities
Oil prices fell as U.S. inventory data overshadowed earlier gains from geopolitical risks. Brent closed at $65.26, WTI at $61.94. Gold rose 0.7% to $3,312.51, marking a third straight gain, buoyed by a weaker dollar and global uncertaint.
