Oil prices briefly surpassed $120 per barrel on Monday as tensions between the U.S. and Iran kept the global commodity market on edge. Supply concerns intensified sharply after Iran blocked a critical shipping channel.

Money market analysts anticipate that robust primary market repayment of N2.4 trillion will play a pivotal role in strengthening liquidity in the financial system. This anticipated surge in liquidity is primarily driven by inflows from matured Open Market Operations (OMO) and Treasury bills.