… CBN $320m as local currency weathers June liquidity squeeze

Nigeria’s foreign exchange market recorded $46.37 billion in turnover within four months of publishing trading data under the Nigeria Foreign Exchange Market (NFEM), as the naira remained largely stable across both the official and parallel markets despite intermittent liquidity pressures.

Data published by the Central Bank of Nigeria (CBN) showed that combined turnover at the NFEM and interbank foreign exchange market reached $46.37 billion between March and June 2026, reflecting growing activity and improved depth in the country’s unified foreign exchange market.

A breakdown of the figures showed that turnover at the NFEM window accounted for $38.61 billion during the period, while interbank transactions totalled $7.76 billion.

Trading activity was equally robust, with the NFEM recording 22,282 deals over the four months, compared with 8,021 transactions executed in the interbank market.

The increased market activity coincided with relative exchange rate

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