FX market turnover surges 98% to $3.37bn
As the Nigerian financial markets continue to navigate shifts in investor sentiment and macroeconomic adjustments, stakeholders closely monitor weekly trading flows, institutional participation, and corporate disclosures, JIDE AJIA reports. The Nigerian Exchange experienced a downturn during the trading week ended on Friday, October 9, 2026, as broader market indicators pulled back. Investors…
The Nigerian financial market witnessed a remarkable surge in trading turnover, skyrocketing by an astounding 98% to a record $3.37 billion in the week ending October 9, 2026. The Nigerian Exchange, known as the NGX, reported a total of 2.715 billion shares changing hands, valued at N158.280 billion across 209,986 deals. This unprecedented activity was primarily driven by the Financial Services Industry, which led the market with an impressive 2.005 billion shares worth N82.924 billion in 94,483 transactions.
The Consumer Goods Industry and ICT Industry followed with significant contributions, respectively. The NGX All-Share Index and market capitalization both experienced a slight decline, closing the week at 248,363.55 and N161.260 trillion, respectively. Despite this modest drop, the overall market demonstrated resilience with retail investors maintaining a strong presence, accounting for 45.79% of domestic transactions.
The week's notable corporate events included the listing of Nigeria's September 2026 FGN Savings Bonds and the restructuring of Sterling Financial Holdings Company Plc, which saw its share capital reconstructed and a new listing of 6,850,233,171 ordinary shares.
Written by urgent.news from Punch's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- FX market turnover surges 98% to $3.37bn punchng.com
