Nigeria’s financial system liquidity surged by nearly 29 percent to 4.66 trillion naira last week, driven by significant Open Market Operations and Treasury bill maturities. Despite substantial sterilization through CBN auctions, liquidity remains elevated, with an additional 3 trillion naira expected to enter the system this week. This liquidity boost has increased secondary market activity, with FGN bond trading volumes jumping 49 percent and average bond yields softening to 16.59 percent. Meanwhile, the CBN has reduced its upcoming Treasury bill auction to 500 billion naira, signaling a strategic adjustment amid the current cash-heavy environment.