Nigeria’s foreign exchange market has recorded a sharp increase in turnover, with activity reportedly rising by 98 per cent to $3.37 billion.
The increase points to a significant rise in trading activity in the country’s foreign exchange market, which plays an important role in supporting businesses, international trade and other financial transactions.
However, the Punch article available at the supplied link does not provide the detailed figures or explanation behind the reported foreign exchange turnover increase. Its accessible content focuses mainly on activity on the Nigerian Exchange (NGX), making it difficult to confirm the specific factors responsible for the reported rise.
In the equity market, investors traded 2.715 billion shares worth ₦158.28 billion in 209,986 deals during the week ended October 9, 2026.
The financial services sector led trading by volume, recording 2.005 billion shares valued at ₦82.924 billion. Access Holdings, Zenith Bank and United Bank for Africa were among the major contributors to trading activity.
Despite the high trading volume, the NGX All-Share Index declined by 0.97 per cent to close at 248,363.55 points, while market capitalisation fell by the same percentage to ₦161.26 trillion.
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