Nigeria’s FX Market Posts 757% Jump in Dollar Liquidity 

Nigeria’s official foreign exchange market saw dollar liquidity surge more than eightfold this week to a record high of $12.85 billion, according to official data of trades between banks and their clients.  

The turnover in the FX spot and derivatives markets rose from $1.5 billion in the previous week. 

“The significant week-on-week increase in total turnover was driven solely by increased activity in the FX spot market, as no trades were recorded in the FX derivatives market for the week-ended October 3, 2025,” said securities exchange FMDQ, which tracks the trades.