In an update published by Premium Times, the Central Bank of Nigeria (CBN) revealed that daily foreign exchange turnover in the official market has climbed significantly, regularly exceeding the $400 million mark. The apex bank attributed this liquidity surge to sustained interventions, clearing of backlogs, and increased autonomous inflows from exporters.
The upward trajectory in market turnover indicates a return of transparency and confidence to the Nigerian Autonomous Foreign Exchange Market (NAFEM). According to the central bank’s data, the stabilization measures implemented over the past year are successfully redirecting transactions from the parallel market into official banking channels.
Financial operators suggest that the consistent liquidity has helped moderate extreme volatility, providing corporate buyers with more predictable access to greenbacks. The central bank has reiterating its commitment to maintaining market-driven price discovery while checking speculative distortions.
Confirming the liquidity milestone, Leadership highlighted the impact on manufacturing and import supply chains. The newspaper quoted an investment banker who noted, “Achieving a daily turnover above $400 million provides the structural depth required to stabilize the Naira and reassure international investors.” Similarly, the Business Day reported on the central bank’s metrics, quoting an FX trader who stated, “The steady volume in the official window reduces the panic buying that typically drives wild fluctuations in the parallel market.”
**Echotitbits take:** Higher FX liquidity is a vital metric for corporate planning and manufacturing output, as it eases raw material sourcing. The next crucial phase to watch is whether the CBN can sustain these volumes without depleting external reserves, especially if global oil prices fluctuate.
Source: Premium Times – https://thenationonlineng.net/cbn-records-1bn-daily-forex-market-turnover/, May 16, 2026
Photo credit: Daily Post
