System Liquidity
System liquidity dipped by ₦874.3bn to ₦1.1tn, largely driven by the settlement of the previous session’s OMO auction despite a coupon inflow of ₦41.3bn. However, the Overnight Policy Rate (OPR) closed flat at 26.50%, while the Overnight (O/N) rate dipped marginally by 4bps to 26.96%.
Treasury Bills
The treasury bills secondary market opened actively, driven by demand from the OMO auction, with the 17th Feb 2026 OMO maturity trading around 22.80% before closing at 23.14%. Overall average rates closed 3bps higher compared to the previous session.
FGN Bonds
Bond market traded mixed with muted activity at the short end and mid sell pressure in the mid segment, where few papers saw yields rise. Average yield to a marginal drop of 1bp at 16.05%
Eurobonds
Africa Eurobonds market traded mixed as investors stayed cautious ahead of the U.S. JOLTS data, which came in at 7.44Mn versus 7.71Mn previously. Nigeria Eurobond average yields slipped marginally by 1bps to 8.09%.
Nigerian Equities
Bullish sentiment persisted at the Nigerian local bourse, as the NGX All-Share Index (NGX-ASI) advanced by 203bps to close at 137,912.87 points; Notably, four major sectoral indices posted gains, led by the Industrial Goods (+2.93%), Insurance (+1.91%), Banking (+1.62%), Oil & Gas (+0.19%), while the consumer Goods shed 0.27%; block trades included 13m units of STANBIC at ₦101.0, 96.8m units of FIDELITYBK at ₦21.00, 2m units of WAPCO at ₦133.7, amongst others
Foreign Exchange
The Nigeria interbank NFEM traded relatively positive as the USD/NGN rate to trade between ₦1,535.5 and ₦1,520.0. The Naira gained slightly, appreciating 7bps to close at an average of ₦1,533.18 to the dollar. As of July 28, 2025, Nigeria’s gross foreign reserves rose to about $39.14 billion, representing a daily gain of roughly $376.12 million.
Commodities
Global oil prices gained over 3% on Tuesday as President Trump ramped up pressure on Russia over its war in Ukraine and on optimism that a trade war between the U.S. and its major trading partners was abating. Brent crude gained $2.62 to $72.66 per barrel, while U.S. West Texas Intermediate appreciates $2.57 to $69.28.
