System Liquidity
System liquidity opened the session in surplus at ₦6.61 trillion, improving by ₦1.05 trillion from the previous day, largely supported by ₦2.71 trillion OMO maturities and ₦3.43 trillion DMB SDF placements. Despite the ample liquidity position, the Nigerian Overnight Financing Rate (NOFR) remained unchanged at 22.00%.
Treasury Bills
The NTB secondary market was completely inactive as investors stayed on the sidelines ahead of the primary auction. Consequently, yields were flat across all tenors, with the average benchmark yield holding steady at 16.02%.
FGN Bonds
Trading activity in the FGN bond market remained muted, reflecting cautious investor sentiment ahead of the upcoming auction. Yields were broadly unchanged across the curve, with marginal 1bp declines on the 20‑Mar‑2028 and 21‑Feb‑2034 papers, keeping the average yield stable at 15.77%.
Eurobonds
Nigerian sovereign Eurobonds closed on a positive note as buying interest strengthened across most maturities amid firmer oil prices. The rally drove broad-based yield compression, resulting in a decline in the average benchmark yield to 6.79%, despite isolated weakness on the Sep‑2033 bond.
Nigerian Equities
The equities market closed bearish as sustained profit‑taking weighed heavily on banking and oil & gas stocks. The NGX All‑Share Index declined by 58bps to 241,750.15 points, while market capitalisation fell by ₦904.40 billion to ₦155.15 trillion, even as trading volume and value rose markedly.
Foreign Exchange
The naira weakened at the NFEM, depreciating by ₦1.31 to close at ₦1,366.55/$, pressured by stronger FX demand despite CBN intervention. The currency traded within the ₦1,362.00–₦1,370.50 band, while external reserves declined by $23.35 million to $48.34 billion.
Commodities
Oil prices declined sharply, with Brent falling 3.70% to around $110.20/bbl and WTI down 3.50% to approximately $102.69/bbl amid easing geopolitical tensions. In contrast, gold prices recovered, with spot gold rising 0.80% to about $4,555.08/oz as investors reassessed risk conditions.
