FMDQ Exchange records N496.61tn year-to-date turnover

FMDQ Exchange has recorded a total market turnover of N496.61tn between January and August 2026 across 162 business days, reflecting sustained liquidity and active market participation driven primarily by foreign exchange transactions and policy-linked fixed income instruments.

The milestone, detailed in the 142nd edition of the FMDQ Newsletter obtained by The PUNCH on Tuesday, reveals that trading figures averaged a daily turnover of approximately N3.07tn ($2.23bn) over the eight months.

The FX segment, combining Spot FX and FX Derivatives, led overall trading volume by generating N192.32tn ($140.27bn) and accounting for 38.73 per cent of total market turnover.

Central bank policy instruments also remained a major driver of exchange activity.

Open Market Operations bills accounted for 29.59 per cent of the total turnover at N146.93tn, followed by Repurchase Agreements at 14.09 per cent (N69.99tn), Federal Government Bonds at

8.74 per cent (N42.08tn), and Treasury Bills at 8.31 per cent (N41.26tn). Activity remained heavily concentrated among primary dealers, with the top ten Dealing Member Banks accounting for 75.94 per cent (N377.13tn) of total turnover, led by First Bank of Nigeria Limited, Stanbic IBTC Bank Limited, and Coronation Merchant Bank Limited. Speaking on the performance, the Group Chief Operating Officer of FMDQ Group Plc, Ms Tumi Sekoni, said, “The notable activities across the Group underscore FMDQ Group’s continued commitment to deepening market development, enhancing efficiency, and contributing to the growth of Nigeria’s financial markets.” Beyond secondary market trading, capital raising activity expanded across key real- sector industries, particularly healthcare and consumer services. FMDQ Exchange approved the listing of Emzor Pharma Funding SPV PLC’s N26.70bn 5-Year 19.00 per cent Series 1 Fixed Rate Bond alongside Ojaja Pan Africa Limited’s N25.53bn Commercial Papers.

FMDQ highlighted that the corporate debt listings further demonstrate the capacity of Nigeria’s debt capital markets to mobilise long-term funding for key sectors of the economy, including local pharmaceutical manufacturing.

Parallel to its core market operations, the Group advanced its social empowerment mandate through the hosting of the 7th edition of the FMDQ Next Generation Financial Markets Empowerment Programme.

Held at Exchange Place in Lagos, the summer initiative welcomed primary and secondary school students to introduce them to financial literacy.

“The programme provided young participants with valuable exposure to the financial markets, equipping them with foundational knowledge and insights into opportunities available within the industry,” Sekoni noted, reinforcing FMDQ’s commitment to building future market leaders.

Source: https://punchng.com/fmdq-exchange-records-n496-61tn-year-to-date-turnover/