The market capitalisation of Exchange Traded Funds (ETFs) listed on Nigerian Exchange Limited, the leading market for ETFs in the West Africa, rose to N20.32bn in the first quarter of 2021. The trade volumes rose by 3,064 per cent from nearly 0.2 million units in Q1 2020 to 5.3 million units recorded in Q1 2021.

Despite the COVID-19 pandemic, the NGX ETP market witnessed a sterling performance, resulting in market capitalisation of the 12 listed ETFs rising to N20.32bn. The market turnover (value traded) jumped by 4,556 per cent between Q1 2020 and Q1 2021 even as five of the listed securities were the most active during the period under review.

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