System Liquidity
System liquidity opened stronger at ₦3.88tn (+₦595bn), supported by higher DMB placements at the SDF and PMA inflows, despite a sizable OMO allotment; funding costs eased with OPR at 22.50% and O/N down to 22.68%.
Treasury Bills
NTB trading was quiet and largely flat amid subdued interest, with only the 17-Dec-26 bill seeing a 6bp yield drop, while the average benchmark rate closed unchanged at 16.18%.
FGN Bonds
The FGN bond market was calm with mixed movements, minor sell-offs at select points on the curve, and largely unchanged long-end activity, leaving the average benchmark yield flat at 16.70%.
Eurobonds
African Eurobonds traded mixed-to-positive on softer U.S. CPI and stable Treasuries, with Nigeria’s mid-to-long tenors posting modest gains, nudging the average benchmark yield 1bp lower to 7.07%.
Nigerian Equities
Equities closed positive as the ASI gained 26bps on broad-based gains, led by industrial and consumer goods stocks, though activity was subdued and largely driven by cross deals.
Foreign Exchange
The Naira appreciated by ₦7.93 to ₦1,456.56/$ at the NFEM on improved supply, while external reserves edged up to $45.22bn, reversing recent declines.
Commodities
Oil prices rallied on geopolitical supply risks, with Brent at $62.04/bbl, while gold surged to record highs above $4,435/oz on strong safe-haven demand.
