FMDA’s Monthly report-April 2026: Highlights
- Average system liquidity declined by 25.22% in April to N4.84 trillion, driven by sustained CBN liquidity mop-up operations, although slightly lower than March levels.
- Looking ahead, an estimated N10.53 trillion in inflows is projected for May, about 16% higher than April levels.
- OMO maturities are expected to account for about 68% of total inflows, although the CBN may moderate liquidity through further market operations.
- The naira appreciated across both official and parallel markets, with total NFEM turnover rising to $8.51 billion in April.
- Oil prices remained elevated amid ongoing geopolitical tensions, despite intermittent corrections.
- Fixed income yields showed mixed movements in April, with declines at the short and long ends, while mid-tenors edged higher; Treasury bill yields moderated, African
- yields trended lower, and developed market yields edged higher.
- External reserves declined by an estimated 2.19%, amid heightened global risk aversion and external pressures.
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