System Liquidity
System liquidity opened with a surplus of ₦2.65 trillion, boosted by ₦614.61 billion in coupon inflows despite reduced SDF placements at the CBN. Average funding costs eased slightly to 22.59%, with OPR at 22.50% and OVN at 22.68%.
Treasury Bills
The NTB secondary market traded quietly and remained stable, with benchmark rates unchanged across maturities. The average benchmark rate held steady at 16.00% as trading volumes stayed subdued.
FGN Bonds
The FGN bond market was largely steady, showing minimal price action and marginal yield movements across the curve. The average benchmark yield closed unchanged at 15.92%, with slight shifts such as 20 Mar 27 at 15.98% and 20 Mar 28 at 15.99%.
Eurobonds
Nigeria’s Eurobonds traded bullish, with modest yield compression across maturities. The average Nigerian Eurobond benchmark yield eased to 6.89%, while key papers like Sep 2028 and Mar 2029 printed 5.44% and 5.72% respectively.
Nigerian Equities
The equities market closed positive as the ASI advanced 65 bps, bringing year to date returns to 33.55%. Market activity was mixed, with 32 gainers and 34 losers, while JAPAULGOLD recorded the highest volume at 473.98 million shares and ARADEL led value at ₦4.14 billion.
Foreign Exchange
The Naira depreciated by 22 bps (₦2.91) against the USD, trading within the ₦1,343–₦1,354.50/$ band before settling at ₦1,349.24/$. External reserves rose to $48.77 billion, reflecting a $269.01 million daily increase.
Commodities
Brent crude traded around $71.40/bbl, while WTI hovered near $66.31/bbl amid global uncertainty and geopolitical developments. Gold strengthened as risk off sentiment prevailed, with spot prices rising to $5,208.49/oz and futures to $5,228.94/oz.
