Nigeria's foreign exchange turnover falls 47% as stock market climbs 6.3%

Nigeria FX turnover Nigerian stock market NGX All-Share Index FX spot decline Guinness Nigeria fall

In the week ended 10 July 2026, activity on Nigeria’s foreign‑exchange market sharply contracted. Total turnover across spot and derivatives dropped 46.6 % to US$1.63 billion, driven by a 46.6 % fall in spot transactions and a 45.2 % decline in forward contracts. Exchange‑traded FX futures recorded no activity, and average daily turnover fell from $610.6 million to $326.2 million. Spot trading still accounted for 96.9 % of total volume.

During the same period, Nigeria’s equities market posted a strong weekly gain. The NGX All‑Share Index rose 6.35 % week‑on‑week to 243,798.76 points, and market capitalisation increased by about N9.34 trillion to N156.44 trillion. However, trading volume collapsed 73 % to 441.27 million shares and value traded fell 82.7 % to N19.40 billion. Notable moves included Guinness Nigeria slipping 9.99 %, while top gainers were Nigeria Infrastructure Debt Fund (+10 %) and International Breweries (+9.9 %).

Sources

FX Market Turnover Drops 47% to $1. 63Billion – FMDQ [newscentraltv.com]

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Nigerian stocks gain 6. 35% in one week, as bulls takeover [nairametrics.com]

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