Research & development

Our Training Programs

The Financial Markets Dealers Association (FMDA) is dedicated to promoting professionalism and developing the Nigerian financial markets through effective and dynamic training programs. Since 1992, our training arm has been identifying training needs and gaps in various institutions and designing courses to meet these needs

Nigeria’s FX Market Update Q2,2025

The Nigeria FX Market Update for Q2 2025, prepared from the Central Bank of Nigeria’s latest Statistical Bulletin. Summary Key Highlights

FX pressures in Q2 2025 were driven primarily by a 53% q/q rise in invisibles, led by financial services, which increased to US$5.58bn, consistent with heightened portfolio-related and capital-market transactions.
Import-related FX demand rose modestly to US$5.18bn, led by oil and industrial inputs, adding to early-quarter liquidity pressure.
In response, CBN FX sales increased by 41% q/q to US$3.17bn, reflecting targeted intervention early in the quarter to stabilise market conditions amid uneven autonomous inflows.

Please download the full report here.