System Liquidity
Funding costs stayed high as the OPR and O/N rates each rose 30bps to 32.40% and 32.70%, with system liquidity at ₦94.6 billion deficit.
Treasury Bills
The NTB market began the week on a soft note, as tight liquidity drove mixed performance across maturities, with longer tenors repriced higher and the average yield edging up 2bps to 17.98%.
FGN Bonds
The FGN bond market started the week on a mixed note, with minor shifts across short- and mid-tenors, resulting in subdued activity and a marginal 1bp drop in the benchmark yield curve to 16.61%.
Eurobonds
Despite higher global oil prices, the African Eurobond market remained bearish as fading expectations of a September Fed rate cut weighed on sentiment, pushing Nigerian Eurobond yields up 3bps to 7.83%.
Nigerian Equities
The Nigerian equities market opened the week higher, as the NGX-ASI rose 7bps to 144,722.47 points, supported by strong gains in insurance and consumer goods stocks, led by AIICO, CUSTODIAN, DANGSUGAR, and CADBURY. However, losses in the Banking, Oil & Gas, and Industrial Goods sectors partly offset the rally, though market breadth remained positive with 43 gainers against 26 losers.
Foreign Exchange
The Naira weakened at the interbank NFEM, slipping 31bps to close at ₦1,534.80/USD after trading within the ₦1,535.00–₦1,534.80 band, while gross foreign reserves rose slightly to $40.72 billion as of August 13, 2025.
Commodities
Global oil prices closed higher after Trump’s meeting with Ukraine’s president, with Brent up 67 cents to $66.52/bbl and WTI gaining $1.34 to $63.32/bbl, while gold eased as investors shifted focus to Trump’s talks with EU leaders and the Fed’s symposium, with spot gold down 4bps to $3,333.98/oz and futures $4.50 lower at $3,378.10.
