NFEM Turnover Hits $3.80bn in One Week, 1,514 Deals Executed
Nume Ekeghe Foreign exchange turnover at the Nigerian Foreign Exchange Market (NFEM) stood at $3.80 billion in the week ended August 7, 2026, as market activity increased towards the end
Nigerian Foreign Exchange Market (NFEM) recorded a turnover of $3.80 billion in a single week, with 1,514 deals executed across five trading sessions, according to market data. Friday saw the highest daily turnover of $1.25 billion, accounting for about 32.8% of total transactions for the week. Overall, the five sessions saw an average of 303 deals per day, with Tuesday recording the highest number of transactions at 343.
Interbank activity also played a significant role, with 572 interbank deals executed, representing 37.8% of total deals. Friday's interbank turnover was the highest at $393.48 million. The data indicates sustained activity in the official foreign exchange market, with turnover averaging $760.90 million per trading day, with the latter days of the week showing particularly strong activity.
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