The Nigerian equity market opened the week on a negative note, with the NGX-ASI declining 0.11% and Market Capitalization falling 0.09%. The mixed indicator outcomes were attributed to additional listings from International Energy Insurance Plc’s Public Offer and Prestige Assurance Plc’s Private Placement.

Despite the ₦429bn NTB maturity inflow, system liquidity declined marginally by 1.1% to ₦3.96tn from ₦4.01tn, as placements at the SDF window fell by 27%. Consequently, the Overnight Rate eased to 22.11%, while the OPR remained unchanged at 22.00%.

An 18.6% decline in liquidity brought the level to ₦4.01 trillion from ₦4.93 trillion, although liquidity remained elevated amid the CBN’s decision not to conduct an OMO auction to absorb excess funds. Conversely, the overnight rate edged up by 16bps to 22.36%, while the Open Repo Rate (OPR) held steady at 22.00%.

A ₦2.2 trillion injection from OMO maturities expanded market liquidity by 45.6% to ₦4.93 trillion from the prior ₦3.38 trillion. Conversely, the overnight rate edged up to 22.20%, while the Open Repurchase Rate remained steady at 22.00%.

A  slight decrease in SDF placement dragged system liquidity lower by 5.1%  to ₦3.38tn from  the prior ₦3.57tn. Subsequently, the overnight rate  eased by 6bps to 22.19%, while the OPR held steady at 22.00%.

The ₦1.46tn NTB PMA settlement dragged system liquidity lower by 28% to ₦4.63tn, from the previous ₦6.47tn. Consequently, the overnight rate inched up by 1bp to 22.11%, while the OPR remained unchanged at 22.00%.

System liquidity declined by 28% to ₦3.84 trillion from the prior ₦5.33 trillion. This reflects the impact of the ₦2.2 trillion OMO auction settlement, which absorbed a significant portion of excess liquidity. Conversely,  the Overnight Rate eased by 2bps to 22.12%, while the Open Repo Rate (OPR) remained unchanged at 22.00%.

System liquidity expanded by 5.5% to ₦5.33 trillion from ₦5.05 trillion, driven by the inflow of ₦2.45 trillion from OMO maturities. Consequently, the Overnight Rate eased by 1bp to 22.14%, while the Open Repo Rate remained unchanged at 22.00%.

System liquidity opened the week 44.3% higher at ₦6.52 trillion, compared with ₦4.51 trillion in the previous session, supported by a ₦2.19 trillion OMO maturity inflow. Consequently, the Overnight Rate declined marginally by 5bps to 22.19%, while the Open Repo Rate remained unchanged at 22.00%.

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