FMDQ Exchange started 2025 with steady trading momentum across Nigeria’s fixed income and currency markets.
It recorded total market turnover of ₦676.71 trillion between January and December 2025.
FMDQ Exchange Market Momentum
During 247 business days, market participants traded an average of ₦2.74 trillion daily.
Consequently, banks, institutional investors and monetary authorities maintained consistent market participation throughout the year.
Liquidity Drives Activity
Meanwhile, short-term funding and liquidity management instruments drove overall market activity.
Specifically, foreign exchange transactions led turnover at ₦254.42 trillion, representing 42.68% of total activity.
Next, repurchase agreements generated ₦166.91 trillion and contributed 24.67% of overall turnover.
As a result, foreign exchange transactions and repos produced over ₦421 trillion and drove liquidity recycling.
In addition, Open Market Operations Bills recorded ₦139.08 trillion and ranked third among traded instruments.
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Therefore, policymakers used OMO activity to manage system liquidity and support sterilisation efforts.
Similarly, Treasury Bills generated ₦44.00 trillion, while Federal Government Bonds produced ₦35.31 trillion.
At the same time, foreign exchange derivatives reached ₦34.42 trillion and reflected rising hedging demand.
Furthermore, Eurobonds recorded ₦1.15 trillion, while Sukuk Bonds generated ₦815.76 billion in turnover.
Meanwhile, Promissory Notes contributed ₦6.1 billion and Other Bonds added ₦0.26 billion.
Strategy And Outlook
Subsequently, Ms Tumi Sekoni of FMDQ Group Plc outlined the Exchange’s strategic priorities for the year.
She emphasised collaboration, strengthened governance and improved liquidity to support sustainable market growth.
Moreover, the Exchange compiles turnover data from trade submissions that Dealing Members provide.
The dataset covers foreign exchange, Treasury Bills, money market instruments, bonds and derivatives.
Finally, the Exchange excludes primary market auctions and reports transactions executed among members, clients and the Central Bank.
