‎Nigeria’s FX derivatives turnover plunges 41.59% in one week‎

Forward contract activity in Nigeria’s FX market took the hardest hit last week, with derivatives turnover nearly halving as demand for hedging instruments cooled sharply, Confiance News can report.
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‎Nigeria’s FX Derivatives market, comprising FX Forward transactions, recorded a sharp 41.59 percent decline in turnover for the week ended September 4, 2026, according to data sighted by Confiance News.
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‎Turnover in the segment fell to $70.65 million from $120.96 million in the week ended August 28, 2026, marking a drop of $50.31 million and the steepest percentage decline among all FX products tracked in the period.
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‎Figures obtained by Confiance News from the FMDQ Securities Exchange show that the daily average for FX Derivatives transactions also contracted, falling to $14.13 million from $30.24 million a week earlier.
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‎The segment’s share of total FX market turnover slipped to 2.93 percent, down from 3.94 percent in the previous week, reflecting reduced appetite for forward-dated currency contracts among banks and their clients.
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‎FX Forwards are typically used by businesses and financial institutions to hedge against future currency volatility, and a pullback in this segment can sometimes signal shifting expectations around exchange rate stability or reduced near-term hedging needs.
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‎Confiance News gathered that the FMDQ weekly FX turnover report continues to serve as a key reference point for tracking liquidity trends in Nigeria’s foreign exchange market, with both spot and derivatives data offering insight into overall currency market health.