System Liquidity
System liquidity opened with a surplus of ₦3.11 trillion, boosted by ₦730.70 billion in OMO maturities and ₦4.47 billion in PMA repayments. Average funding cost eased to 22.13%, with OPR at 22.00% and OVN at 22.25%.
Treasury Bills
The NTB market traded bullish as demand caused rate declines across most maturities. Mid tenor bills such as the 09-Apr-26, 09-Jul-26, and 06-Aug-26 fell to 16.02%, 15.82%, and 15.76% respectively, while the average benchmark rate eased to 15.72%.
FGN Bonds
The FGN bond market traded bullish with notable yield compressions across mid to long tenor papers. Key declines include 21-Feb-31 dropping to 15.25% and 21-Feb-34 declining to 15.24%, bringing the average benchmark yield down to 15.73%.
Eurobonds
African Eurobonds traded cautiously with mild bearish sentiment as yields increased across most Nigerian maturities. Benchmark Nigerian Eurobond yields rose modestly, pushing the average yield higher to 6.92%.
Nigerian Equities
The equity market closed negative with the NGX All Share Index falling 0.91% to 194,484.61 and market capitalization decreasing by ₦1.14 trillion. Trading volume dropped by 4.94% while value surged 92.58%, with 26 gainers and 40 losers indicating broad selling pressure.
Foreign Exchange
The Naira weakened by 46bps to close at ₦1,355.37/$, trading within the ₦1,351.50–₦1,362.00/$ band due to strong USD demand. External reserves stood at $48.90 billion, up $129.88 million day on day.
Commodities
Oil prices edged lower, with Brent at $71.14/bbl and WTI at $66.31/bbl following geopolitical developments. Gold prices softened, with spot gold falling to $5,159.31/oz, while U.S. gold futures hovered around $5,177.56/oz.
