System Liquidity
Liquidity surged after FAAC inflows and ₦283.79bn NTB maturities, easing funding pressure. Interbank rates dropped significantly, with OPR falling to 26.50% and O/N to 26.95%, marking a sharp 5.7%+ decline in overnight rates.
Treasury Bills
T-bills trading began quietly but saw selective interest in short-to-mid tenors like 4-Sep and 11-Nov bills. Demand remained weak overall, keeping volumes low. The benchmark NTB rate dipped slightly to 18.67% by session close.
FGN Bonds
Bond activity increased, especially in mid-tenor maturities like May 2033, Feb 2031, and June 2032. Improved demand drove yields marginally lower, with the average yield dropping 4bps to 17.89%.
Eurobonds
African Eurobonds traded mixed. Nigerian papers inched up as Trump’s plan to replace Fed Chair Powell and weak U.S. jobs data boosted rate cut expectations. Nigerian Eurobond yields dipped 2bps to 8.72% by session end.
Nigerian Equities
Equities declined 40bps as mixed sentiment weighed on the market. Banking, Consumer, and Oil & Gas indices fell, but Industrials gained. Unilever and SFSREIT rose 10%, while OANDO and THOMASWY declined sharply. Trading value dropped 30% to $11.75m.
Foreign Exchange
The Naira appreciated 85bps to ₦1,536.08/$, supported by FX inflows from IOCs, FPIs, and improved market liquidity. USD/NGN traded between ₦1,534–₦1,549. FX reserves declined $54.09 million to $37.41 billion as of June 25, 2025.
Commodities
Oil prices edged up on falling U.S. inventories and rising fuel demand, though Middle East tension eased. Brent rose to $67.73, WTI to $65.24. Gold stayed flat at $3,333 as markets awaited U.S. inflation data.
