Reflecting weak appetite for loans, deposit money banks (DMBs) significantly increased their placements at the Central Bank’s Standing Deposit Facility (SDF) window, reaching N6 trillion as of Thursday.

Dangote Sugar Refinery Plc’s (Ticker: DANGSUGAR) share price nosedived by 10% as investor sentiment deteriorated after an unimpressive earnings performance.

In the secondary market for Nigerian government bonds, trading activity was mixed as investors evaluated their portfolios against targets.

The naira declined against the US dollar at the official window on Thursday, marking the seventh consecutive session of depreciation in the local currency.

The U.S. dollar weakened against other major currencies amid geopolitical concerns and trade uncertainties, fuelling negative sentiment.

Slow but steady, the Nigerian local currency, the naira, continues its downward trajectory for the sixth consecutive day, largely driven by FX liquidity shortfall in the official window.