System Liquidity
System liquidity opened at ₦1.47tn, supported by primary market inflows despite lower SDF placements. Funding conditions eased, with the OPR closing at 22.50% and the OVN rate declining to 22.68%.
Treasury Bills
The NTB market traded mixed, supported by improved liquidity-driven demand on select bills, particularly Jan-27. Profit-taking on other maturities offset gains, leaving the average benchmark rate flat at 16.45%.
FGN Bonds
The FGN bond market was calm but slightly bearish as investors stayed cautious ahead of CPI data. Selling pressure appeared at short and mid tenors, lifting the average benchmark yield by 4bps to 16.80%.
Eurobonds
African Eurobonds traded mixed to bearish amid risk-off sentiment from higher U.S. yields and Fed caution. Nigerian Eurobonds were mixed across the curve, leaving average benchmark yields unchanged at 7.30%.
Nigerian Equities
The Nigerian equity market closed positive, with the ASI up 58bps and market capitalisation rising on UBA’s share listing. Market breadth was strong, led by multiple limit-up gainers, while CHAMPION topped decliners. Sector performance was broadly bullish, driven by gains in banking, consumer goods, oil and gas, and industrial stocks. Trading value improved, with sentiment strengthening into the session close.
Foreign Exchange
The naira depreciated marginally to ₦1,423.57/$ at the NFEM amid sustained demand but limited volatility. External reserves rose slightly to $45.67bn, supporting near-term currency stability.
Commodities
Oil prices were steady near five-week highs on supply risk concerns, while gold and silver hit record levels as investors sought safe havens amid geopolitical and policy uncertainty, reinforcing a cautious, risk-off tone.
