FMDQ Exchange Records N676.7 Trillion Turnover in 2025, Signals Strong Market Growth
Nigeria’s fixed income and foreign exchange market achieved a landmark turnover of N676.71 trillion on the FMDQ Exchange in 2025, according to data published on the Exchange’s official website. The record figure spans 247 business days, averaging N2.74 trillion per day, underscoring robust participation from banks, institutional investors, and monetary authorities.
Short-term funding instruments and monetary policy tools dominated the trading landscape last year, with foreign exchange and repurchase agreements (repos) leading market activity. Foreign exchange transactions alone totaled N254.42 trillion, accounting for over 42% of overall turnover, while repos contributed N166.91 trillion, or nearly 25% of total trades. These figures highlight the central role of currency trades and liquidity recycling in Nigeria’s financial markets.
Open Market Operation (OMO) Bills also saw significant activity, generating N139.08 trillion, reflecting ongoing efforts by the Central Bank of Nigeria to manage system liquidity. Treasury Bills and Federal Government Bonds followed with N44 trillion and N35.31 trillion, respectively, while derivatives and other bond instruments added depth to the market, indicating an increasing appetite for risk management and hedging strategies.
Speaking on the results, Ms. Tumi Sekoni, Group Chief Operating Officer of FMDQ Group Plc, emphasized collaboration with regulators and stakeholders as a priority for market development. She said, “We will deepen collaboration to strengthen governance, enhance liquidity, and promote sustainable market growth. We are grateful for the partnership and confidence of our stakeholders and remain optimistic about advancing the Nigerian financial markets.”
The reported turnover figures, sourced from trade submissions by FMDQ’s Dealing Members, include foreign exchange, money market instruments, bonds, and derivatives, excluding primary market auctions. Together, these transactions reflect a vibrant and evolving market, with short-term liquidity management and currency trading emerging as the key drivers of Nigeria’s capital market activity in 2025.
source: nairametrics