System Liquidity
The interbank market opened stronger on robust liquidity from SDF and OMO inflows, pushing OPR and OVN lower to 25.50% and 25.92% after the MPC’s 50bps rate cut.
Treasury Bills
The T-bills market traded bullish on strong liquidity and the MPC’s 50bps cut, with selective demand in short-dated bills and the NTB mid-rate easing 8bps to 16.76%.
FGN Bonds
The FGN bond market traded mixed with light activity, as selective demand for the 2029s and 2035s pushed the average mid-yield down 9bps to 16.40%.
Eurobonds
African Eurobonds rebounded broadly on stronger oil demand and Fed signals of further rate cuts, with mid- to long-dated papers leading gains, while Nigerian Eurobond yields rose 9bps to 7.77%.
Nigerian Equities
Nigerian equities extended losses for a third session as the ASI fell 40bps to 140,929.60 (+36.92% YTD), dragged by broad sectoral declines led by DANGSUGAR and WAPCO. FCMB listed 3.17bn new shares, while turnover jumped 88% to ₦25.7bn on heavy block trades.
Foreign Exchange
The naira firmed 8bps to ₦1,487.37/$ amid softer demand and export inflows, trading between ₦1,482.55–₦1,495.00. Reserves rose $104.11m to $42.14bn (22 Sept).
Commodities
Oil rallied as stalled Kurdish export talks eased oversupply fears, with Brent up 2.85% to $67.85 and WTI up 2.15% to $63.62. Gold hit another record on safe-haven demand and Fed rate-cut bets, with spot at $3,764.29 and December futures at $3,782.15.
