FMDQ Exchange Reports N551.23 Trillion Turnover in 2026

The FMDQ Exchange recorded a trading turnover of N551.23 trillion in the first nine months of 2026, equivalent to $403.08 billion. This figure, detailed in the FMDQ Exchange Market Turnover Report for January to September 2026, indicates that foreign exchange and Open Market Operations (OMO) bills accounted for nearly two-thirds of market activity.

The report, based on data available as of October 5, shows an average daily turnover of N3.03 trillion, or approximately $2.22 billion, across 182 business days. Foreign exchange transactions reached N190.80 trillion, representing 34.61% of total turnover, while OMO bills accounted for N163.42 trillion, or 29.65%.

The combined total from these two segments was N354.22 trillion, or 64.26% of overall trading turnover. The report also noted that trading activity was concentrated among a small number of banks, with Stanbic IBTC Bank leading, followed by First Bank of Nigeria and Coronation Merchant Bank.

The ten leading banks accounted for N415.85 trillion, or 75.44% of total market turnover.