System Liquidity
Market liquidity improved to ₦3.8 trillion on bond coupon inflows and higher SDF balances, though funding rates inched up slightly, with OPR steady at 24.50% and O/N at 24.86%.
Treasury Bills
The NTB market traded quietly as focus shifted to the October bond auction, with only the 22-Oct-2026 bill rising 1bp to 15.85%, leaving the average yield unchanged at 16.09%.
FGN Bonds
The FGN bond market was quiet as investors awaited the October auction, with modest activity on short-dated papers (2026s–2029s) and the average yield unchanged at 15.87%.
Eurobonds
The African Eurobond market gained as easing U.S.–China trade tensions drove Nigerian Eurobond yields down 13bps to 7.47%.
Nigerian Equities
The Nigerian equities market closed slightly lower as banking sector losses outweighed gains in oil and gas stocks, with the ASI down 10bps despite strong interest in ARADEL following its ND Western acquisition.
Foreign Exchange
The Naira closed flat at ₦1,457.96/$, while external reserves increased by $73.2 million to $42.87 billion as of October 22, 2025.
Commodities
Oil prices rose slightly on renewed trade optimism despite OPEC’s output plans, while gold fell below $4,000/oz as easing U.S.–China tensions weakened safe-haven demand.
