The Nigerian government bondholders maintained hold on the naira assets, keeping the benchmark yield steadied. The average yield remained unchanged at 15.73% as the market shifted to a cautious mood.

The European Union (EU) has pledged to deepen bilateral ties with Nigeria across security, trade, and key economic sectors amid growing global uncertainty.

A significant surge in US dollar demand at the Nigerian foreign exchange market (NFEM) led to a sharp decline in the naira’s value on Monday, according to daily FX data published by the Central Bank.

Money market rates diverged amidst strong liquidity in the financial system, driven by deposits from Nigerian lenders’ activities at the Apex Bank window.

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Guaranty Trust Holding Company (GTCO) Plc shrank further on the Nigerian Exchange (NGX) amid a missed regulatory filing, which weakened investor sentiment.

MTN Nigeria Plc lost 6.46% of its market value, equivalent to N1.028 trillion, amid large-scale selloffs on the Nigerian stock market. The telco company’s market value plunged as investors dumped shares on the Nigerian Exchange, according to trading data tracked by MarketForces Africa.

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The Central Bank of Nigeria (CBN) sold OMO bills worth N2.4 trillion to banks, and foreign portfolio investors at the primary market auction floated on Monday.

The naira pulled back sharply against the US dollar at the Nigerian foreign exchange market (NFEM) as foreign reserves recorded its fifth outflow for international payments on Monday.