System Liquidity
CBN’s ₦600bn OMO auction drew ₦2.17tn in bids, allotting ₦1.25tn. Liquidity tightened sharply, pushing OPR to 29.75% (+100bps) and O/N to 30.42% (+109bps).
Treasury Bills
Quiet trading followed the NTB/OMO auctions. The DMO sold ₦201.82bn despite ₦1.33tn bids, with stop rates dropping significantly. CBN also sold ₦1.25tn in OMO bills. NTB average rate dipped 2bps to 17.14%.
FGN Bonds
Activity was muted due to wide bid/ask spreads, though interest persisted in May 2033s, Feb 2034s, and June 2053s. Despite light trading, average yields dropped 15bps to 16.40%.
Eurobonds
Markets shrugged off new U.S. tariffs on countries including Iraq and the Philippines. Nigerian Eurobonds remained stable, with yields falling 2bps to 8.64%.
Nigerian Equities
The ASI gained 28bps to 121,989.67 points as broad-based buying persisted. Banks and industrials led gains, while consumers and oil tickers lagged. Trading slowed (-19.88%), but sentiment stayed bullish with 59 gainers vs. 21 losers.
Foreign Exchange
Improved dollar supply strengthened the Naira by 55bps to ₦1,520.7490/$, trading between ₦1,520–₦1,530. FX reserves rose slightly by $7.14m to $37.28bn.
Commodities
Oil prices rose on strong U.S. gasoline demand, Red Sea tensions, and lower output forecasts. Brent hit $70.53, WTI $68.76. Gold gained 0.3% to $3,309.24/oz amid trade talk concerns, though capped by a stronger dollar.
