System Liquidity
System liquidity improved to a surplus of ₦3.06 trillion, supported by OMO maturities and coupon inflows, which helped ease funding conditions slightly as O/N and OPR rates moderated marginally.
Treasury Bills
The NTB secondary market was calm with no material repricing across tenors, leaving the average discount rate unchanged at 15.98% ahead of the next NTB auction.
FGN Bonds
The FGN bond market remained cautious after higher stop rates at the December auction, with weakness in short-to-mid tenors driving the average yield higher by 8bps to 16.71%
Eurobonds
African Eurobonds traded mixed with sell pressure at the mid-to-long end following mixed U.S. job data, pushing Nigeria’s benchmark average yield up by 2bps to 7.18%.
Nigerian Equities
The Nigerian equities market closed marginally positive as gains in select small- and mid-cap stocks offset losses in major banking names, with the ASI up 0.01% amid reduced trading activity.
Foreign Exchange
The naira weakened at the NFEM due to demand pressure and limited dollar supply, closing at ₦1,456.20/$ despite strong external reserves of $45.47 billion.
Commodities
Oil prices declined sharply on easing geopolitical tensions while gold edged higher on weaker U.S. labour data that reinforced expectations of Fed rate cuts.
