Nigerian FX Market Turnover Reaches $8.51 Billion in April

In April 2026, the Nigerian foreign exchange market (NFEM) recorded a turnover of $8.51 billion, reflecting increased trading activity despite ongoing global pressures. The naira appreciated to N1,361.22 in the official market and N1,403.60 in the parallel market, marking increases of 1.36% and 1.18% month-on-month, respectively.

The Financial Market Dealers Association (FMDA) reported that the financial system is set to receive N1.06 trillion in matured securities this week, which is anticipated to support liquidity conditions in the money market. The Central Bank of Nigeria (CBN) continues to manage liquidity through open market operations, with projections indicating a significant inflow of N10.53 trillion in May, representing a 16% increase from April.

The report also noted that the average system liquidity declined to 25.22% month-on-month, while the Nigerian overnight fund rate remained stable at 22.05%.