System Liquidity
System liquidity opened with a surplus of ₦6.90 trillion, up from ₦4.92 trillion in the previous session, supported mainly by ₦4.57 trillion in DMB placements at the CBN SDF and ₦2.07 trillion in OMO maturities. Despite the ample liquidity, the Nigerian Overnight Financing Rate (NOFR) remained unchanged at 22.00%.
Treasury Bills
The NTB secondary market traded quietly with limited investor participation and mostly unchanged yields across the curve. Mild buying interest at the long end drove the 08-Apr-27 and 06-May-27 papers lower to 15.86% and 15.80%, respectively, pulling the average benchmark yield down by 3.2bps to 15.99%.
FGN Bonds
FGN bonds recorded a calm and largely range-bound session with mixed movements across selected maturities. While yields on the 20-Mar-28 and 15-May-33 papers eased to 16.13% and 16.83%, the 21-Feb-34 bond edged higher to 16.75%, leaving the average benchmark yield flat at 15.77%.
Eurobonds
The Nigerian Sovereign Eurobond market closed weaker as profit-taking dominated trading activities across the curve. Yield expansion was most pronounced at the mid-segment, with FEB 2030 and JUN 2031 widening by 14bps and 12bps, while the average benchmark yield rose by 7bps to 6.83%.
Nigerian Equities
The equities market closed positive as the NGX ASI gained 77bps, lifting the year-to-date return to 62.2%. Buying interest in banking and consumer goods stocks supported sentiment, while improved trading activity saw total trade value rise to $72.72 million.
Foreign Exchange
The Naira weakened by 18bps at the NFEM, depreciating by ₦2.46 to close at ₦1,375.62/$ amid stronger dollar demand. This occurred despite an increase in external reserves to $48.45 billion, reflecting continued FX inflows and improved liquidity conditions.
Commodities
Global oil prices extended gains, with Brent crude rising 3.31% to $107.66 per barrel and WTI up 4.21% to about $102.20, driven by renewed concerns over Middle East supply disruptions. Conversely, gold prices softened, with spot gold falling 1.11% to around $4,714.60/oz amid inflation and rate-hike concerns.
