NFEM Achieves $12.98 Billion Turnover in September

In September, the Nigerian Foreign Exchange Market (NFEM) achieved a total turnover of $12.98 billion over 22 trading days, according to market data reported by Nume Ekeghe. This resulted in an average daily turnover of $590.20 million, indicating robust trading activity, with several days exceeding $600 million.

However, the total turnover represented a decrease of $1.69 billion, or 11.5%, compared to the $14.68 billion recorded in August across 20 trading days. The highest trading session in September occurred on September 10, with a turnover of $1.45 billion, followed by significant sessions on September 8 ($933.78 million), September 15 ($777.58 million), September 23 ($732.45 million), and September 22 ($694.58 million).

Notably, September 28 recorded the lowest daily turnover of $196.68 million, while September 21 and September 14 had turnovers of $482.24 million and $423.95 million, respectively.