Buying and selling turnover at the FMDQ Change reached N551.23 trillion within the first 9 months of 2026, identical to $403.08 billion, with foreign currency and Open Marketplace Operations (OMO) expenses accounting for just about two-thirds of marketplace job.
That is in keeping with the FMDQ Change Marketplace Turnover File for January to September 2026, in response to knowledge to be had as of October 5 and analyzed via Nairametrics.
The document confirmed a median day by day turnover of N3.03 trillion, or roughly $2.22 billion, throughout 182 industry days, reflecting really extensive buying and selling job in foreign currency and cash marketplace tools.
FX, OMO dominate FMDQ turnover:
Foreign currencies transactions accounted for the most important percentage of FMDQ turnover throughout the nine-month length, attaining N190.80 trillion, or 34.61% of the overall. OMO expenses adopted with N163.42 trillion, representing 29.65%.
In combination, the 2 segments generated N354.22 trillion, identical to 64.26% of general buying and selling turnover.
- Repos and open repos accounted for N75.60 trillion, or 13.71% of turnover.
- Federal Executive of Nigeria bonds recorded N46.67 trillion, whilst Treasury expenses contributed N45.74 trillion.
- FX derivatives generated N24.91 trillion, representing 4.52% of general transactions.
- Unsecured placements and takings recorded N2.71 trillion, whilst Eurobonds and Sukuk contributed N1.01 trillion and N380.42 billion, respectively.
- OMO turnover used to be roughly 3.57 instances Treasury invoice turnover and about 3.5 instances the price recorded for FGN bonds.
- Foreign currencies and FX derivatives in combination accounted for N215.71 trillion, or 39.13% of the marketplace.
- When repos are integrated, FX and OMO transactions jointly represented 77.97% of general turnover.
The figures display that FMDQ buying and selling job remained closely concentrated in foreign currency transactions and non permanent cash marketplace tools.
September provides N54.6 trillion turnover:
Nairametrics reported in September that FMDQ turnover reached N496.61 trillion in January to August, with FX and OMO additionally main. The most recent document builds at the N496.61 trillion turnover recorded between January and August 2026.
Evaluating the 2 cumulative stories signifies that roughly N54.6 trillion in more turnover used to be recorded in September, despite the fact that the estimate stays topic to conceivable knowledge changes via FMDQ.
- Foreign currencies turnover larger via roughly N19.4 trillion between the 2 stories.
- OMO turnover rose via about N16.5 trillion over the similar length.
- FMDQ’s weekly foreign currency knowledge confirmed a September bank-client turnover of roughly $10.80 billion, with spot transactions accounting for 94.77%.
- The week ended Sep 11 recorded the absolute best weekly bank-client FX turnover throughout the month at $3.39 billion.
- Moderate day by day turnover throughout the nine-month length stood at roughly N1.05 trillion for FX and N897.92 billion for OMO expenses.
- Repos averaged N415.36 billion day by day, when compared with N256.41 billion for FGN bonds and N251.32 billion for Treasury expenses.
Then again, OMO turnover measures transaction values reasonably than exceptional securities or liquidity withdrawn from the monetary machine.
Ten Banks dominate FMDQ buying and selling:
Buying and selling job used to be additionally concentrated amongst a slightly small collection of dealing member banks. Stanbic IBTC Financial institution ranked first in FMDQ’s league desk, adopted via First Financial institution of Nigeria and Coronation Service provider Financial institution.
The 10 main banks accounted for N415.85 trillion, representing 75.44% of general marketplace turnover throughout the length.
- The 3 highest-ranked banks jointly recorded N235.55 trillion, or roughly 42.73% of general turnover.
- Their blended transactions represented 56.64% of turnover a few of the most sensible ten banks.
- The remainder seven banks within the most sensible ten accounted for about N180.30 trillion.
- Banks out of doors the highest ten recorded about N135.38 trillion, representing 24.56% of marketplace turnover.
- The 3 main banks subsequently treated roughly N55 trillion extra in transactions than the opposite seven banks within the most sensible ten blended.
- The document does no longer supply person turnover figures for the 3 main banks or establish which tools accounted for his or her respective ratings.
- Importantly, the N551.23 trillion turnover determine represents the price of marketplace transactions, no longer contemporary capital raised or new funding getting into the monetary machine.
The buck identical is in response to FMDQ’s moderate alternate charge of N1,367.68/$ and does no longer imply that each one transactions have been denominated in bucks. General, the document highlights the dominance of foreign currency and OMO tools in FMDQ buying and selling, along really extensive focus of dealing job a few of the biggest banks.