Corporate Bond Listings On FMDQ Surge To N531.89bn In April

FMDQ Exchange listed six corporate bonds valued at N531.89 billion on its platform in April 2026, a sharp jump from just one bond worth N30 billion in March.

With no maturities during the period, the outstanding value of non-sovereign securities rose 21.51 per cent to N3.004 trillion.

In April 2026, one commercial paper (CP) from the Health sector valued at N10.00 billion, was quoted on the Exchange. This is a 70.71 per cent month-on-month (MoM) decrease compared to March 2026, when CPs quoted amounted to N34.14 billion.

The total outstanding value of CPs decreased by 13.92 per cent MoM to N319.51 billion, driven primarily by CP maturities worth N61.65 billion, which exceeded new issuances during the review period.

While total secondary market turnover recorded on the FMDQ Exchange in April 2026 was N55.97 trillion, representing a MoM decrease of 12.35 per cent from March 2026 and a YoY increase of 22.45 per cent from April 2025.

Foreign Exchange (FX) and Central Bank of Nigeria (CBN) bills turnover dominated secondary market activity, jointly accounting for 66.02 per cent of total secondary market transactions during the review period.

Also, total spot market turnover for all products traded in the secondary market on FMDQ Exchange stood at N54.69 trillion in April 2026, a 10.58 per cent MoM decrease from March 2026.

FMDQ stated that “this MoM decrease was solely driven by the 45.74 per cent increase in FX turnover, offsetting the 0.90 per cent (N0.28 trillion) and the 187.82 per cent (N5.64 trillion) increase in FI and MM transactions, respectively, during the review period.

“The increase in money market (MM) turnover was driven by reduced activity in Repos/Buy-backs. Similarly, the increase in Fixed Income (FI) transactions reflects stronger activity across the Open Market Operations (OMO) bills sub-product category, while CBN Special Bills remained inactive in the review period.”