System Liquidity
System liquidity closed lower at ₦3.82trn due to reduced SDF placements. Funding costs were stable, with OPR and overnight rates closing unchanged at 22.50% and 22.75%.
Treasury Bills
The NTB secondary market traded quietly with flat yields across all tenors. Cautious investor positioning ahead of year-end kept the average benchmark rate unchanged at 16.19%.
FGN Bonds
FGN bond market remained calm and range-bound, with yields largely unchanged across the curve. Slight bearish pressure appeared on the short end, while the benchmark yield held at 16.55%.
Eurobonds
African Eurobonds traded mildly bullish on oil-producer demand. Nigerian sovereign yields compressed across key maturities, pushing the average benchmark yield down 8bps to 7.00%.
Nigerian Equities
The NGX closed positive as the ASI rose 37bps, lifting YTD returns to 51.19%, supported by strong market breadth. Banking stocks outperformed, while oil and gas lagged. Trading value declined, dominated by negotiated local investor crosses.
Foreign Exchange
The naira appreciated by 69bps to ₦1,435.76/$ on improved FX supply. External reserves rose to $45.49bn, reinforcing stability and supporting market-driven price discovery.
Commodities
Oil prices declined amid oversupply concerns, with Brent at $61.25/bbl. Gold eased on the day but ended 2025 strongly, supported by Fed easing expectations and geopolitical risks.
