FMDQ Records ₦676.7tn Market Turnover in 2025 as FX, Liquidity Trades Lead

Trading on the FMDQ Exchange reached a total value of N676.71 trillion in 2025, reflecting sustained activity across Nigeria’s fixed income and currency markets.

The turnover was recorded over 247 trading sessions, translating to an average daily value of about N2.74 trillion. The figures highlight steady participation by commercial banks, institutional investors and monetary authorities throughout the year.

Currency transactions accounted for the largest share of activity, with foreign exchange trades valued at N254.42 trillion, representing roughly 43 per cent of the total market volume. Repurchase agreements followed at N166.91 trillion, while Open Market Operations bills generated N139.08 trillion in turnover.

Treasury bills and Federal Government bonds contributed N44 trillion and N35.31 trillion respectively, while unsecured placements and takings made up only a minor fraction of trades.

Together, FX transactions and repos exceeded N421 trillion, underscoring the central role of short-term liquidity management and currency trading in market activity during the year.

Derivative trading also remained notable, as FX derivatives recorded N34.42 trillion, reflecting hedging demand amid exchange rate volatility. Other instruments such as Eurobonds, Sukuk bonds and promissory notes contributed comparatively modest volumes.

Commenting on the outlook, Tumi Sekoni of FMDQ Group Plc said the exchange would focus on strengthening cooperation with regulators and market participants to deepen liquidity, improve governance standards and support long-term market growth.