System Liquidity
Liquidity stayed tight due to FGN bond settlements, pushing interbank rates higher. OPR rose 80bps to 32.20%, and O/N rate increased 70bps to 32.60%.
Treasury Bills
Market activity was subdued, with light interest in mid-to-long dated papers, notably the 4 June bill. Some OMO trades occurred, but volumes stayed low. NTB benchmark rate dipped slightly by 7bps to close at 18.64%.
FGN Bonds
Bond market saw moderate demand for 2029s, 2031s, 2033s, and new 2032s. Offers on the 2032s improved to 17.90%. Trading volume remained moderate, but overall market yields declined by 6bps to end at 17.93%.
Eurobonds
Eurobonds traded mixed as profit-taking offset initial gains. Markets digested Trump’s ceasefire declaration and Powell’s cautious stance on rate cuts. Nigerian Eurobonds held steady, ending the session at 8.75% despite the geopolitical and Fed policy backdrop.
Nigerian Equities
Market rallied 122bps to 121,257.69 points, with broad gains across sectors. Banking, Consumer, Industrial, and Oil & Gas indices all surged. DANGSUGAR, OANDO, ZENITHBANK, and BUACEMENT led the charge. Value traded rose 10.41% to $16.88m.
Foreign Exchange
The USD/NGN pair traded stable between ₦1,548–₦1,553. The Naira weakened marginally by 1bp to close at ₦1,549.2616/$, while FX reserves dropped by ~$52.94 million to $37.47 billion.
Commodities
Oil rebounded ~2% on strong U.S. demand and a stabilizing Israel-Iran ceasefire. Brent rose to $68.36, WTI to $65.62. Gold stayed flat at $3,327.91/oz, with declining safe-haven demand ahead of key U.S. economic data.
