DAILY NIGERIAN FOREIGN EXCHANGE MARKET (NFEM) RATES (₦/US$)
Moving Average = 1361.07 (NFEM)
Previous Average = 1,366.78
Change = +0.4178%
Forex Analysis
Our naira to dollar moving average rose by about 0.4%. This came about largely as a result of improved liquidity in the official FX windows. Sources of the improvement were a mixture of CBN interventions, improved foreign inflows and continued efforts to reduce the spread between official and parallel rates thus encouraging exporters and investors to route FX through official channels.
The spread however persistently remained between 30 and 40 naira per $ throughout the week, thus showing sustained structural demand (importers, travellers, businesses).
Daily Crude Oil Prices
Moving Average = $92.07
Previous Average = $94.84
Change = -2.9207%
Crude Oil Analysis
Our Brent crude moving average fell by about 3% and for the 3rd week in a row, reflecting the continuing macroeconomic headwinds despite the boost to prices from geopolitical tensions. The market has essentially repriced oil lower as ample supply is meeting weakening demand, leading to lower prices that geopolitical risks have not been able to reverse.
NGX Top 10 Gainers for the week closing 11th June 2026
NGX Top 10 Losers for the week closing 11th June 2026
Stock Market Index Activity for the week closing 11th June 2026
Stock Market Index Analysis
Forty (40) equities appreciated in price during the week higher than twenty-three (23) equities in the previous week. Fifty-three (53) equities depreciated in price, lower than sixty-five (65) equities in the previous week, while fifty-three (53) equities remained unchanged, lower than fifty-eight (58) recorded in the previous week.
The week’s activity showed a mixed but moderately positive performance across equities, reflecting stronger breadth on the gainers’ side compared to the previous week, while losers and unchanged stocks declined in number — a sign of slightly improved investor sentiment despite lingering macroeconomic pressures.
Trading volumes were moderate, with investors balancing between defensive plays (insurance, mortgage banks) and cyclical sectors (energy, transport).
Below is a sector by sector breakdown of performance for the week June 05 to June 11.
Fixed-Income Analysis
Nigeria’s government securities market reflected a liquidity‑rich but uneven environment this week.
In Nigerian Treasury Bills (NTBs), there were no primary auctions this week. Without fresh supply from auctions, turnover in NTBs slowed as investors shifted focus to OMO bills and liquidity management. Banks and asset managers largely held existing NTB positions rather than actively trading them. Yields stayed broadly stable in the 17–18% range, with only marginal movements. The lack of auction supply meant there was no catalyst for significant repricing.
In Federal Government (FGN) Bonds, trading was relatively muted, with yields stable in the 13–15% band across mid‑ to long‑tenor maturities. Domestic institutions maintained positions, while foreign investors showed limited activity given FX uncertainties. Bond prices were steady, reflecting a wait‑and‑see stance ahead of the next auction cycle.
In OMO Bills, CBN held auctions which it used to conduct aggressive liquidity mop‑ups, selling about ₦3.04 trillion worth of OMO bills. Subscriptions were very strong, with foreign portfolio investors showing interest in high real returns. Successful bid rates clustered around 19.96–20.28% for medium‑tenor bills, while very short‑dated paper cleared at roughly 21.89%. In the secondary market, average OMO yields declined by 13 basis points to roughly 20.9%, showing demand outweighed supply.
Daily Bitcoin Prices
Moving Average = $62,110.61
Previous Average = $69,506.63
Change = -10.6407%
Bitcoin Analysis
Our bitcoin average fell for the 4th week in a row this time by a significant 10.6%. Bitcoin continues to be the victim of macroeconomic headwinds (stronger U.S. dollar and rising bond yields) and relatively new regulatory uncertainties. This week also saw reduced inflow institutional funds (bitcoin exchange traded funds) and increased retail selling pressure.
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