Extract from weekly market review
The near term is filled with expectations of intervention measures globally to mitigate risk in the market. In Nigeria, the additional scheduled NTB Dutch action with a total offer of ₦400bn, and high inflows of ₦2.96 trillion stemming from FGN Bond coupon payments and maturing (OMO and Treasury) bills into the system will lead to an exceedingly cash awashed system in the coming week, where there is an absence OMO auction. We expect continued firm control in rates against an environment of volatile oil price spike, which remains a crucial risk for an import-dependent economy.
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Weekly Market Review
Global financial markets navigated a transitional and policy-driven landscape during the review period, as domestic and global forces converged to shape cautious, yield-sensitive investor behaviour. The period witnessed the continued impact of the oil price volatility as well as macroeconomic updates. In Nigeria, the fixed income market traded within a narrow band, reflecting indecision amid shifting liquidity and rate expectations, while a mild bullish correction in Eurobonds signalled selective risk re-engagement rather than conviction. The backdrop was reinforced by a cooling headline inflation at 15.06%, though persistent short-term price pressures and regional disparities continue to cloud the disinflation narrative.
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#marinatimes
If emotional intelligence can transform workplaces, families, and friendships, why don’t we practice it more often?
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Eid Mubarak 🌙
Today, millions around the world mark a day of gratitude, generosity, and celebration.
Wishing our readers a joyful and peaceful Eid.
Alternative Assets
A Market Coiled for Resolution: Technically, the market conditions point toward an eventual breakout from consolidation.
BTC: support at ~$70,000 and resistance at ~$75,000–$78,000.
ETH: support at ~$2,100 and resistance at ~$2,400–$2,600.
With volatility compressed and momentum indicators neutral, the market appears poised for directional expansion, contingent on external catalysts. Three scenarios are expected in the near term, where the defining feature remains policy sensitive:
Base Case (Most Probable): where continued consolidation within established ranges is expected as the market awaits regulatory clarity and macro signals
Bull Case: triggered by legislative progress or liquidity expansion, BTC advances toward $85,000–$90,000, and ETH approaches $3,000+
Bear Case: driven by policy disappointment or macro tightening, BTC retraces toward $58,000, and ETH revisits lower support levels
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Extract from weekly market review
The near term is filled with expectations of intervention measures globally to mitigate risk as the market awaits the upcoming Federal Open Market Committee Meeting during the week. In Nigeria, the expected February 2026 inflation report release, in addition to the scheduled March 18 NTB auction, with a total offer of ₦1.05 trillion, and ₦1.09trillion inflows stemming from coupon payments, FGN 21.00% Mar. 2026 bond redemption, maturing (OMO and Treasury) bills into the system. A potentially prompt for the CBN to mop up surplus, as the excess liquidity will drive a fresh reinvestment pull or trigger new OMO auctions to control the money supply.
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Global tensions continued to shape financial markets in the second week of March 2026, driving oil prices to their highest levels of the year so far.
In Nigeria, markets responded to oil price volatility, liquidity conditions, and policy signals from the CBN and DMO. Despite strong demand at OMO and Treasury Bills auctions, selective allotments highlighted efforts to manage borrowing costs.
The Nigerian Exchange saw modest gains, with the NGX All-Share Index rising 0.60%, while the Naira strengthened by 2.80% during the week as foreign reserves crossed $50 billion.
Meanwhile, oil extended its rally with Brent crude closing at $102.86/bbl and WTI at $95.11/bbl, while global equities struggled amid geopolitical concerns.
Overall, the week reflected a delicate balance between global uncertainty and local market resilience. 📈
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Do we grow more through success or through the struggles that test our strength?
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@sancathaku
These events highlight a market that is maturing in real-time. We are no longer in a purely retail-driven speculative chase, but in a transition toward a globally integrated financial asset class.
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Happy belated international women’s day to our beautiful women out there, we love you all!
#internationalwomensday♀️
Looking ahead, the scheduled March 11 NTB auction, with a total offer of ₦850 billion, in addition to a massive ₦1.81 trillion in maturing OMO and Treasury bills hitting the system next week, will test its resilience.
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