In an apparent reaction to the official launch of the FX code by the Central Bank of Nigeria, the Nigerian currency, the naira, appreciated massively against...
The Central Bank of Nigeria (CBN) has directed all participants in the foreign exchange (FX) market to submit compliance reports detailing their adherence to the Nigeria...
President Bola Ahmed Tinubu has described Nigeria’s pre-2023 economic condition as unsustainable, characterizing it as a facade that masked the nation’s financial struggles. He emphasized that...
Business operations in Nigeria and other Sub-Saharan African (SSA) countries have been hampered by import restrictions and foreign exchange shortages, the International Monetary Fund (IMF) has...
The Central Bank of Nigeria (CBN) has announced that all valid foreign exchange backlogs of $7 billion have now been settled3,The Central Bank of Nigeria (CBN)...
The Federal Government, on Sunday, said it is committed to bringing down inflation, stabilising foreign exchange rates, tackling insecurity, and creating a truly enabling environment for...
The Federal Government is set to introduce new rules for the foreign exchange market and also crackdown of illegal trading of currency by the end of...
The founder of Erisco Foods Limited, Eric Umeofia, has alleged that there are racketeers that determine who gets foreign exchange from the Central Bank of Nigeria...
The total foreign exchange transactions in the investors’ and exporters’ window of the official market fell to $64.14 million on Monday, as the dollar rate increased....
In the next two weeks, the Central Bank of Nigeria (CBN) intends to inject $10 billion into the foreign exchange market to clear the forex backlog...
Foreign exchange traders in the Investors’ and Exporters’ window of the official market transacted $54.18 million worth of forex on Friday. The authorised dealers and clients...
On Monday, the authorised dealers reduced their asking price for the United States Dollar to N795.28 kobo/$1 by the close of trading in the official market....
This line-up of stories will help you discover the latest happenings around the tech world, today. 1. Nigeria’s Grey launches to help users access foreign currencies...
The Central Bank of Nigeria (CBN) has refuted a report that the naira has been devalued and the dollar rate increased to N631. A report emerged...
The total foreign exchange transacted on Monday in the official market was $55.10 million, falling below the value transacted the previous session by 65.9 per cent....
On Wednesday, the exchange rate at the official market was N463.02/$1 at the time trading closed, with the dollar rate settling below Tuesday’s N462.25 kobo/$1. The...
Trading in the foreign exchange official market closed with the Dollar rate hitting N462.78/$1 on Monday, as the value of the Naira depreciated by –0.11 per...
The Nigerian naira, on Wednesday, weakened to N707 a dollar at the parallel section of the foreign exchange market. The figure represents N42 or 7.45 per...
The Nigerian Economic Summit Group (NESG) has urged the Central Bank of Nigeria (CBN) to find a solution to the country’s multiple exchange rates to attract...
Nigerian currency, the Naira continued its recovery from pressure placed on it due to primaries of political parties in the country, as it recorded another gain...
After two days of losses, Nigeria’s currency on Wednesday reversed the losses as it appreciated across foreign exchange markets. Data from the FMDQ indicated that Naira...
Black market traders are exchanging Nigerian currency at N578 to a dollar as pressure on the foreign exchange market increases. This is according to a market...
Absa-OMFIF Africa Financial Markets Index 2021 (AAFMI) report has pointed at Nigeria’s foreign exchange restriction measures as an albatross to the country’s foreign investment attraction. AAFMI...
The Bankers’ Committee has lamented that some customers are using expired travel tickets and fake passports to procure forex from commercial banks amid sales restrictions to...
Securities and Exchange Commission (SEC) has expressed concerns that many young Nigerians are showing more interest in foreign stocks than local stocks. According to the commission,...
Nigeria’s currency on Wednesday weakened further by 0.12 percent following strong demand at the Investors and Exporters (I&E) forex window. After trading on Wednesday naira/dollar exchange...
Although a slight gain, Nigerian Naira recorded 0.03 percent improvement against the U.S dollar at the Investors & Exporters window of the foreign exchange market on...
Hello, and welcome to Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market to the mainstream...
The foreign exchange market closed the week with Naira gaining marginally by 0.031 percent after exchanging with the dollar at N410.05 on Friday compared to N410.13...
The Federal Government on Monday announced another currency reform as Naira falls across foreign exchange markets in the country. The Minister of Finance, Budget and National...
Nigeria recorded $23.60 billion as aggregate foreign exchange inflow into the economy in the fourth quarter of 2020. This was a drop of 35 percent from...
Naira on Thursday gained against the dollar at the Investors & Exporters (I&E) window of the foreign exchange market to close at N409 to the dollar...
The Central Bank of Nigeria (CBN) on Sunday published its long awaited economic report for November of 2020; Here are Ripples Nigeria picks on key economic...
Nigeria’s external reserves contracted by $3.17 billion or 8.23% this year as proceeds from sales of crude oil, which provides more than 90% of its foreign...
Naira gained slightly against the United States dollar on Monday on the black market as the country’s foreign exchange reserves lost $437 million in the two...
Time-to-time measures taken by monetary authorities in the foreign exchange systems of Nigeria and other emerging economies are creating an undue optimism in the local currency,...
Recipients of diaspora remittances via international money transfer operators will henceforth receive such inflows in foreign currency as the Central Bank of Nigeria (CBN) moves to...
The Nigerian government said it would open the floodgate of petrol imports and provide the foreign exchange required for the purpose to marketers in the hope...
Nigeria’s foreign exchange reserves plunged to a 12-week low of $35.63 billion on Wednesday, its lowest point since 21st August, when $35.607 billion was recorded, data gleaned...
The inflow of foreign exchange into Nigeria shrank by 43.2% to $5.52 billion in May as Africa’s biggest economy took a battering from a record crash...
Banks will from Monday cap customers’ overseas debit card spending in an effort to avert foreign currency settlement trouble, according to lenders, as Nigeria battles acute...
The economic report of the Central Bank of Nigeria (CBN) has revealed that the Nigerian economy recorded a total foreign exchange inflow of $58.01 billion between...
Nigeria’s foreign reserves has continued its free fall, declining from $39.8 billion to $39.24 billion between 11 November and 13 December this year, the latest data...
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, said on Friday over $60 billion had been traded in the Investors and Exporters (I&E)...
Since the news broke on restriction of Forex for food importation, experts and the general public have reacted with divergent views. A category went left with...
President Muhammadu Buhari, on Saturday, commented further on his earlier controversial statement revealing a directive to the Central Bank of Nigeria (CBN) to end provision of...
The Peoples Democratic Party (PDP) has accused President Muhammadu Buhari of punishing Nigerians though the directive on food importation in the country. President Buhari had on...
The Central Bank of Nigeria (CBN) on Tuesday said $210 million had been freshly injected to boost the Nigerian foreign exchange market. The apex bank had...
The Lagos Chamber of Commerce and Industry, LCCI, has delivered a mixture of praises and knocks for the performance of President Muhammadu Buhari’s performance in his...
The Central Bank of Nigeria, CBN, will continue to implement policies that will help reduce the importation of goods that can be produced locally in the...
