System Liquidity

Interbank liquidity tightened sharply, driving funding rates to 29–30%. The OPR jumped 200bps to 28.75%, while O/N rate rose 208bps to 29.33%.

Treasury Bills

Bullish momentum persisted with heavy demand in mid-to-long tenors. OMO papers for January and March traded at 22.20% and 21.50%. Benchmark NTB average mid-rate plunged 111bps to 17.16%.

FGN Bonds

Bonds rallied strongly, driven by interest in Feb 2031s, June 2032s, and May 2033s. High deal volumes pushed yields lower, cutting the average mid-yield by 46bps to 16.55%.

Eurobonds

Confusion over Trump’s trade policy caused mixed but bearish sentiment. Uncertainty around tariff timing and new copper levies rattled investors. Nigerian Eurobond yields inched up 3bps to 8.66%.

Nigerian Equities

The ASI rose 30bps to 121,653.93, boosting YTD gains to 18.20%. Gains in banking and consumer sectors outweighed losses in OANDO and NNFM. Trading turnover surged 34.94% to $12.71m, with large block trades in GTCO and ACCESSCORP.

Foreign Exchange

The Naira weakened slightly by 6bps to close at ₦1,529.2230/$ amid steady interbank liquidity. CBN intervened to stabilize the market. FX reserves rose by $93.9 million to $37.27 billion.

Commodities

Oil prices hit two-week highs on falling U.S. supply, Red Sea tensions, and copper tariff fears. Brent rose to $70.15. Gold fell over 1% to $3,307.16/oz due to trade optimism, stronger dollar, and rising Treasury yields.