THUR OCT 01 2026-theGBJournal| The banking system liquidity contracted Wednesday, settling at N4.70 trillion net positive, slipping from its Tuesday record high.
This led to a decline in the Overnight (O/N) rate, which fell by 47bps to 20.39%. Open Repo rate also declined by 50bps to 20.00% while the Nigerian Overnight Financing Rate (NOFR) remained unchanged.
The FGN Bond market weakened, as sell pressure was seen across most bonds.
Yields increased by 5bps at the short end, 1bps at the mid-end, and yields remained unchanged at the long end. Consequently, this pushed average yield higher to 15.87% from 15.84% in the previous session.
The Nigerian Treasury Bills (NTB) strengthened marginally, with yields edging lower by about 0.03 at average, taking the average yield down to 17.78% from 17.81% in the previous session.
Meanwhile, the Nigerian Eurobond market closed on a bearish note as sell pressure mounted across the curve. Consequently, average yield edged higher to 7.48% from 7.47% in the previous session
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