Access, StanbicIBTC, Ecobank lead in FMDQ’s N67.37trn H1 report


The trio of Access, StanbicIBTC and Ecobank are accountable for the 45.28 percent of the N67.37 trillion turnover of the first half of 2017 transactions on the FMDQ OTC Securities Exchange.

The three banks recorded N21.45 trillion of the total turnover in the fixed income and currency markets between January and June of the year.

The three banks maintained their position in the league as the top three for three consecutive months with Access Bank and Ecobank Nigeria maintaining the position for six months running since the start of the year.

Other dealing member banks maintained their positions on the league table with the exception of Union Bank which moved from 11th place to ninth.

Citibank Nigeria Ltd moved from ninth place to now occupy 10th position as the top 10 dealing member banks on the report accounted for 70.31 percent or N47.37 trillion.

The breakdown of the N67.37 trillion turnover indicated that N12.62 trillion  worth of transactions were achieved in June, a growth of 33 per cent over the N9.49 trillion posted in May.

The report indicated that transactions in Treasury Bills (TBs) transactions accounted for N31.31 trillion of the total transactions during the period under review.

It was followed by repurchase agreements/buy backs which accounted for N15.73 trillion of the total value, while foreign  exchange derivatives trailed with N7.93 trillion.

FGN Bonds achieved a turnover of N5.35 trillion, while foreign exchange accounted for N6.30 trillion.