NFEM turnover falls below $300 million for first time since September 28
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Nairametrics
Reported by Olalekan Adigun
Tue, 3 Nov 2026, 14:07
Photo courtesy of Nairametrics · Verified via News Stand NG
Source Attribution: Nairametrics
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Turnover at the Nigerian Foreign Exchange Market (NFEM) fell to $227.18 million on November 2, 2026, dropping below $300 million for the first time since September 28, when transactions amounted to $196.68 million. Data from the Central Bank of Nigeria (CBN) show that total turnover declined sharply from $583.33 million recorded on October 30, representing a fall of about 61.1% in one trading session.
Context & Background
✦NFEM turnover drops sharply The latest figure also represents a significant decline from the activity recorded during much of October, when daily turnover frequently exceeded $400 million and occasionally crossed $1 billion.
Key Figures & Named Entities
2026:Turnover at the Nigerian Foreign Exchange Market (NFEM) fell to $227.18 million on November 2, 2026, dropping below $300 million for the first time since September 28, when transactions amounted to $196.68 million.$583.33 million:Data from the Central Bank of Nigeria (CBN) show that total turnover declined sharply from $583.33 million recorded on October 30, representing a fall of about 61.1% in one trading session.$,:The decline came as the naira closed at N1,346.01/$, compared with N1,346/$ in the previous session.
Outlook & Next Steps
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Key Takeaways
Verified Extract
✦Turnover at the Nigerian Foreign Exchange Market (NFEM) fell to $227.18 million on November 2, 2026, dropping below $300 million for the first time since September 28, when transactions amounted to $196.68 million.
✦Data from the Central Bank of Nigeria (CBN) show that total turnover declined sharply from $583.33 million recorded on October 30, representing a fall of about 61.1% in one trading session.
✦NFEM turnover drops sharply The latest figure also represents a significant decline from the activity recorded during much of October, when daily turnover frequently exceeded $400 million and occasionally crossed $1 billion.
Key Facts:2026: Turnover at the Nigerian Foreign Exchange Market (NFEM) fell to $227.18 million on November 2, 2026, dropping below $300 million for the first time since September 28, when transactions amounted to $196.68 million.$583.33 million: Data from the Central Bank of Nigeria (CBN) show that total turnover declined sharply from $583.33 million recorded on October 30, representing a fall of about 61.1% in one trading session.$,: The decline came as the naira closed at N1,346.01/$, compared with N1,346/$ in the previous session.$400 million: NFEM turnover drops sharply The latest figure also represents a significant decline from the activity recorded during much of October, when daily turnover frequently exceeded $400 million and occasionally crossed $1 billion.
Editorial Excerpt
Turnover at the Nigerian Foreign Exchange Market (NFEM) fell to $227.18 million on November 2, 2026, dropping below $300 million for the first time since September 28, when transactions amounted to $196.68 million.
Frequently Asked Questions About This Story
What is the latest development regarding Central Bank of Nigeria?
Turnover at the Nigerian Foreign Exchange Market (NFEM) fell to $227.18 million on November 2, 2026, dropping below $300 million for the first time since September 28, when transactions amounted to $196.68 million.
Who are the key organizations or public figures mentioned?
Data from the Central Bank of Nigeria (CBN) show that total turnover declined sharply from $583.33 million recorded on October 30, representing a fall of about 61.1% in one trading session.
What timeline or key figures were confirmed?
Turnover at the Nigerian Foreign Exchange Market (NFEM) fell to $227.18 million on November 2, 2026, dropping below $300 million for the first time since September 28, when transactions amounted to $196.68 million.
