Despite the strong liquidity position, the average funding cost rose by 4bps to 22.14%, as the Open Repo Rate (OPR) remained unchanged at 22.00%, while the Overnight Rate (OVN) increased by 8bps to close at 22.29%.
System liquidity opened today at a surplus of ₦5.21 trillion, reflecting a decline of ₦461.94 billion compared with the previous session. The moderation in liquidity was primarily driven by the settlement of ₦235.60 billion from the prior session’s OMO auction.
The FY 2025 dividend season for NGX-listed companies reflects a broad-based earnings recovery set against a
materially improved macroeconomic backdrop: moderating inflation, a more stable Naira, record external reserves, and
critically the CBN’s first benchmark interest rate cut in the current cycle. Nineteen companies across nine sectors have
declared, or are expected to declare, dividends for the financial year ended December 31, 2025, several of which represent
historic payout milestones.
System liquidity opened the session in a surplus position of ₦4.39 trillion, representing an increase of ₦682.39 billion compared to the previous session. The improvement was largely driven by higher Deposit Money Banks (DMBs) placements at the CBN’s Standard Deposit Facility (SDF) window, which rose from ₦3.62 trillion to ₦4.32 trillion.
System liquidity opened the session in surplus at ₦2.68 trillion, representing a decline of ₦850.64 billion from the previous day. The moderation was primarily driven by a reduction in Deposit Money Banks’ (DMBs) placements at the CBN’s Standard Deposit Facility (SDF), which declined from ₦3.97 trillion to ₦3.71 trillion.
System liquidity opened the session in surplus at ₦3.53 trillion, representing an increase of ₦416.00 billion compared to the previous day.
System liquidity commenced the week with a surplus of ₦3.02 trillion, reflecting a significant decline of ₦2.24 trillion compared to the previous session’s surplus position.
Tuesday, 17 February 2026 MARKET ANALYSIS System Liquidity (Nigeria) System liquidity commenced the week on a strong note, posting a surplus balance of ₦4.68 trillion, reflecting an increase of ₦360.49 billion compared to the previous session’s surplus position. The improvement was primarily driven by higher placements by Deposit Money Banks (DMBs) at the Central Bank …
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