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Money market rates were relatively stable, with the Open Repo Rate (OPR) steady at 22.00%, while the Overnight rate (O/N) opened at 22.23%, peaked at 22.29% before closing at 22.20%. In the currency market, Naira traded between $/₦1,340.00 and $/₦1,361.50, before closing at $/₦1,358.44 on Friday.

The Nigerian financial markets traded through a week defined by resilient liquidity despite inflation-led repricing pressures and cautious risk-taking across asset classes. Interbank liquidity remained structurally strong, easing from a ₦4.79trn surplus to ₦3.84trn (-22.7% WTD), while money market rates stayed anchored with OPR steady at 22.00% and O/N oscillating around 22.16%–22.35%, reflecting sustained CBN liquidity sterilisation.

Even as the Naira strengthened and equities edged higher, the message across markets was consistent, thereby illustrating a cycle that is no longer a panic-driven cycle, but one cautious repositioning, and capital is not fleeing risk, but repricing it with precision.

Nigeria’s foreign reserves declined further from the end of March 2026 to April 1, 2026, easing from $49.48 billion to $49.18 billion, with a gross amount of approximately $300.34 million (-0.61%). Blocked funds mirrored the easing from $751.41 million to $743.14 million (-1.11%), and a blocked reserve ratio of 1.51%, displaying heightened external shocks and FX liquidity pressure.