FMDQ Exchange Reports N496.61 Trillion Turnover in 2026

The cumulative turnover of Nigeria's fixed-income and foreign-exchange transactions on FMDQ Exchange reached N496.61 trillion in the first eight months of 2026, marking a 16.43% increase from N426.51 trillion in the first seven months. This growth included a rise of N70.10 trillion between July and August 2026.

Foreign Exchange transactions, including Spot FX and FX Derivatives, accounted for N192.32 trillion, or 38.73% of total activity. The Central Bank of Nigeria's Q1 2026 Economic Report indicated that part of this turnover was driven by autonomous foreign-exchange inflows, totaling $361.96 billion.

Key contributors to these inflows included oil exports generating $13.01 billion, diaspora remittances at $5.30 billion, and portfolio investment inflows rising to $6.03 billion. The data also revealed a market concentration among major banks, with the top 10 dealing member banks controlling 75.94% of overall turnover.

The challenge remains to convert this turnover into sustainable credit expansion for the real economy.