System Liquidity
System liquidity opened with a robust surplus of ₦3.81 trillion, reflecting a ₦133.81 billion increase due to higher DMB placements at the CBN SDF window and primary market repayments. Average funding cost held steady at 22.63%, with the OPR at 22.50% and OVN at 22.75%.
Treasury Bills
The NTB secondary market traded mixed to negative as cautious sentiment persisted despite ample liquidity. Rates rose across several mid curve maturities, pushing the average benchmark rate up by 4bps to 16.11%.
FGN Bonds
The FGN bond market closed mixed to negative as selective demand in short to mid tenor maturities was offset by sell pressure at the long end. Average benchmark yield inched up by 1bp to 16.00%, driven largely by a 29bps rise in the 21 Jun 53 bond yield.
Eurobonds
African Eurobonds traded bullish as investors reacted to U.S. labour data and geopolitical developments, with strong positive sentiment across Nigeria, Angola, Egypt, and Ghana. Nigerian Eurobond benchmark yields declined by 4bps to 7.02%, with Feb 2032 posting the steepest drop of 7bps to 6.83%.
Nigerian Equities
The Nigerian Exchange closed positive as the ASI rose by 25bps, supported by gains in SEPLAT, MTNN and others, with 46 gainers vs. 34 decliners. Trading activity was led by ACCESSCORP with 52.05m shares, while GTCO topped value at ₦4.34bn, and total trade value slipped 16.4% to $20.9m. Sectoral movement was mixed: the Banking Index fell 13bps, the Consumer Index dipped 4bps, while the Oil & Gas Index surged 464bps on strong SEPLAT performance. Industrial stocks weakened, shedding 109bps, despite pockets of gains across select counters.
Foreign Exchange
The Naira weakened to ₦1,353.66/$, reversing prior gains as USD demand outweighed Naira demand, trading between ₦1,350.00/$ and ₦1,357.00/$ during the session. External reserves increased by $154.59 million, reaching $47.53 billion as of 10 Feb 2026.
Commodities
Oil prices fell sharply as the IEA cut its global demand forecast, with Brent crude dropping $2.05 to $67.35/bbl and WTI losing 306bps to $62.65/bbl. Gold prices also declined, with spot gold down 231bps to $4,961.83/oz amid improved risk sentiment.
