Turnover on the Nigerian Foreign Exchange Market (NAFEM) rose sharply to $1.41 billion on August 17, 2026, marking the highest level recorded in five weeks as activity in the foreign exchange market rebounded.
The latest figure was contained in data from the Central Bank of Nigeria (CBN).
Checks by Nairametrics showed that the latest turnover level was the highest recorded since July 21, 2026, when NAFEM turnover stood at $1.53 billion.
What you should know
The increase in turnover points to a significant rebound in activity on the official foreign exchange market after trading volumes moderated in recent weeks.
NAFEM turnover measures the value of foreign exchange transactions conducted through the Nigerian Foreign Exchange Market and provides an indication of the level of activity and liquidity in the market.
The latest increase comes amid continued efforts by the CBN to deepen liquidity and improve transparency in Nigeria’s FX market.
What the data is saying
NAFEM turnover hits $1.41 billion
Foreign exchange turnover on NAFEM reached $1.41 billion on August 17, representing the highest daily level recorded in five weeks.
The figure highlights a sharp increase in FX market activity as participants returned to the market in larger volumes.
Highest level since July 21
The latest turnover was the highest since July 21, when NAFEM recorded $1.53 billion in transactions.
This makes August 17 the strongest trading day in the FX market since the July 21 peak.
FX market activity rebounds
The increase in turnover signals renewed activity in the official FX market, providing an indication of stronger transaction flows between market participants.
The development will be closely watched alongside movements in the naira exchange rate and broader FX liquidity conditions as the market continues to adjust to the CBN’s ongoing reforms.
