FMDA’s Monthly Report-June 2026

FMDA’s Monthly report-June 2026: Highlights

• Average system liquidity declined by 12.26% in June to N4.58 trillion, as the CBN intensified its liquidity sterilisation operations, withdrawing an estimated N16.9 trillion through Treasury bill and OMO auctions.
• Looking ahead, an estimated N12.39 trillion in inflows is projected for July, about 8.7% higher than the N11.40 trillion recorded in June. OMO maturities account for approximately 73% of the expected inflows, although the net liquidity impact will depend on the CBN’s sterilisation strategy.
• The naira appreciated marginally by 0.22% in the NFEM market during June, supported by improved FX market liquidity and stronger market turnover despite mild pressure towards month-end.
• Average Brent crude oil prices declined by 17.91% to $84.38/bbl as easing geopolitical tensions in the Middle East reduced supply concerns. Nevertheless, current price levels remain supportive of Nigeria’s external sector.
• Average external reserves increased by 4.09% to $50.68 billion, supported by sustained FX inflows.
• Global bond yields were broadly mixed during the month, with declining yields across several advanced economies reflecting easing inflation concerns, while domestic yields continued to reprice higher on the back of local borrowing and inflation expectation.

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