System Liquidity
CBN’s CRR debits and OMO auction significantly tightened liquidity. Despite oversubscription, interbank rates spiked, with OPR and O/N rising to 28.33% and 28.83% respectively.
Treasury Bills
Activity was muted as focus shifted to OMO auction, which cleared at 24.20% and 24.59%. Interest in January bills was limited, with wide bid-ask spreads hindering trades. NTB benchmark rates averaged 19.29%.
FGN Bonds
The bond market traded quietly with bearish sentiment. Weak demand limited activity, especially in May 2033s quoted at 19.30–19.35%. Overall, average mid-yield closed flat at 18.52%.
Eurobonds
African Eurobonds rallied as easing Israel-Iran tensions boosted risk appetite. Investor focus shifted to upcoming global central bank decisions. Nigerian papers outperformed, with yields tightening 9bps to 9.06% on strong demand.
Nigerian Equities
The ASI dipped 14bps as banking stocks slumped 403bps after a CBN directive on dividend limits. Gains in consumer stocks were insufficient to offset broader market weakness. Market breadth weakened with 43 losers.
Foreign Exchange
The Naira gained 30bps w/w, closing at $/₦1,544.63 as improved supply supported appreciation. It traded between $/₦1,541.00 and $/₦1,555.00. FX reserves stood at $37.93bn as of June 13, 2025.
Commodities
Oil fell $1 as Iran sought ceasefire with Israel, easing supply concerns. Brent closed at $73.23, WTI at $71.77. Gold dropped 1.2% to $3,392.86 as investors took profit after prior gains.
