FMDA’s Weekly Market Report April 20, 2026

Weekly Market Insights: Global Trends and Local Implications

• Average system liquidity declined further to N4.03 trillion last week as the CBN continue mop up liquidity from the system.
• During the week, the CBN withdrew an estimated N2.47 trillion through OMO auction.
• All else being equal, about N2.40 trillion is projected to flow in from maturing securities this week. Of the projected inflows, OMO maturities account for roughly 71 percent.
• Oil prices declined on average by 3.05% to $95.77 on ceasefire optimism and the temporary reopening of the Strait of Hormuz, which raised expectations of improved supply.
• However, the swift reclosure highlights persistent supply risks, suggesting the decline may be short-lived and prices could rebound as markets reopen..
• The naira appreciated by 1.66% to an average of N1,345.93, supported by improved FX liquidity, as interbank turnover rose by 9.5% alongside increased overall market activity.
• Bond yields showed mixed movements as markets reacted to shifting sentiment around the Strait of Hormuz developments.

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