Banking index rose by 3.16% as the Nigerian Exchange (NGX) reversed downward trend with investors

Money market rates rose sharply due to a strained liquidity level after a huge OMO auction debit against the balance in the financial system. The Nigerian interbank offered rate (NIBOR) rose across all maturities, indicating tight liquidity in the banking system

The Nigerian naira appreciated in the official window as foreign reserves surged to approximately $40 billion

Local deposit money banks (DMBs) and foreign portfolio investors (FPIs), along with other authorized dealers, placed huge stake totaling approximately N1.45 trillion on Nigeria’s OMO bills during the Central Bank of Nigeria’s (CBN) primary market auction on Tuesday.

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The Transmission Company of Nigeria (TCN), says the national grid experienced a partial disturbance at about 1.52 p.m. following series of lines and generators tripping.