System Liquidity
Market liquidity improved slightly to ₦4.8 trillion as CBN’s SDF window increased, while funding costs remained stable at OPR 24.50% and O/N 24.86%.
Treasury Bills
The NTB market traded positively amid ample liquidity, with notable rate declines across maturities and an overall 6bps dip to 15.88%.
FGN Bonds
The bond market traded calm to bullish with strong buy-side interest in short- and mid-tenor papers, leading to a slight 1bp fall in average benchmark yield to 15.66%.
Eurobonds
African Eurobonds traded calm to bullish, supported by investor demand in Nigeria and Angola, with Nigeria’s average yield falling 13bps to 7.39%.
Nigerian Equities
The NGX rebounded strongly with a 2.88% gain as broad-based advances in banking, consumer, and oil & gas stocks lifted the All-Share Index to a 41.27% year-to-date return.
Foreign Exchange
The naira weakened marginally by ₦4.37 to ₦1,443.08/$ due to limited dollar supply, even as external reserves rose to $43.40 billion.
Commodities
Oil prices fell over 3% following OPEC’s projection of balanced supply and demand in 2026, while gold surged nearly 2% on expectations of a U.S. rate cut and softer Treasury yields.
