System Liquidity
Liquidity tightened as banks settled AMCON obligations, deepening the market’s debit position. Interbank rates remained elevated, with OPR rising by 67bps to 32.17% and O/N increasing by 50bps to 32.67%.
Treasury Bills
T-bills trading was subdued with light volumes and selective interest in November, March, and July tenors. Limited market activity led to a slight uptick in rates, with the average NTB benchmark yield rising 3bps to 16.29%.
FGN Bonds
Bonds opened the week on a bearish note, especially across short- and mid-tenors like Apr 2029 and May 2033. Low trade execution due to wide bid-ask spreads pushed average yields up by 12bps to 16.35%.
Eurobonds
Nigerian Eurobonds edged lower ahead of U.S. CPI data and corporate earnings. Heightened trade tensions, with Trump targeting Canada and the EU, added caution. Yields rose 10bps to 8.65%.
Nigerian Equities
The ASI rose 43bps to 126,689.54, with banking stocks driving gains. STANBIC, UBA, and ZENITHBANK outperformed, while consumer names lagged. ACCESSCORP led volumes; SEPLAT led in value. Industrial and banking indices posted strong gains despite profit-taking pressures.
Foreign Exchange
The Naira appreciated by 74bps to close at ₦1,518.89/USD, supported by improved FX market sentiment. Trading ranged between ₦1,515–₦1,532. FX reserves rose by $76.6 million to $37.43 billion.
Commodities
Oil prices fell over $1 as Trump threatened sanctions on Russian oil buyers, raising global supply fears. Brent settled at $69.21, WTI at $66.98. Gold eased 0.1% after nearing a 3-week high; silver surged to its strongest level since 2011.
