The world of forex trading in Nigeria has expanded rapidly in recent years, drawing the attention of both novice and seasoned traders. For advanced traders, selecting...
In a bid at deepen the foreign exchange market, boost liquidity and attain convergence in the exchange rates, the Central Bank of Nigeria (CBN) has given...
The Chairman, Senate Committee on Finace, Senator Sani Musa has said that Nigerian economy was facing significant challenges made worse by both internal and external factors...
The Manufacturers Association of Nigeria (MAN) has warned that the worsening foreign exchange crisis in the economy may force many factories to shut down their operations....
A former Vice-President, Atiku Abubakar has blamed the forex policy of the administration of President Bola Ahmed Tinubu for the current poverty and economic hardship in...
The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has disclosed that forensic audit by Deloitte Management Consultant has shown that about $2.4 billion...
The Central Bank of Nigeria (CBN) has disclosed that all verified foreign exchange (FX) claims by airlines have been concluded with the payment of additional $64.44...
The Central Bank of Nigeria (CBN) has resolved to prosecute forex defaulters in the country. The apex bank’s Acting Director of Communication, Mrs. Sidi Ali, disclosed...
The Manufacturers Association of Nigeria (MAN) has expressed worries over the recent invasion of the premises of Dangote Industries Limited by the Economic and Financial Crimes...
The Central Bank of Nigeria (CBN) has released $61.6 million to foreign airlines through various Deposit Money Banks (DMBs). The CBN’s Acting Director of Corporate Communications,...
The director of the banking supervision department of the Central Bank of Nigeria (CBN), Haruna Mustafa, said deposit money banks (DMBs) have been barred from using...
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...
In a bid to sanitise the foreign exchange market, the Central Bank of Nigeria (CBN) has introduced a foreign exchange price verification system, specifically designed for importers to...
The Nigeria Employers’ Consultative Association {NECA}, on Wednesday, counseled the Federal Government on the need to ramp up crude oil production to the 1.8 million barrel...
The foreign exchange crisis currently rocking the country and making life difficult for Nigerians has led the Tertiary Education Trust Fund (TETFund) into considering the suspension...
The FMDQ Securities Exchange reported on Thursday that the exchange rate of the Naira to Dollar settled at N463/$1. According to the foreign exchange (forex/FX) rate...
The value of Nigerian currency increased on Wednesday against the US dollar at the official market. Data from FMDQ securities shows that the naira gained after...
The Naira suffered losses against the United States Dollar in the parallel market and the Peer-to-Peer (P2P) windows of the foreign exchange (forex) market on Wednesday....
To stabilise the exchange rate in the official market, over $15.3 billion was disbursed into the economy by the Central Bank of Nigeria (CBN) in 2022....
The Central Bank of Nigeria (CBN) has threatened to revoke banks’ foreign exchange dealership licenses if they work with International Money Transfer Operators, IMTOs, in violation...
The Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele, on Saturday, decried the effect of the forex scarcity on the nation’s economy. Ripples Nigeria...
On Tuesday, the Naira closed the market with a mixed performance against the US dollar at the foreign exchange (forex) markets. While it strengthened against the...
Banks in Nigeria have provided updates on modifications to foreign exchange (FX) requests made by Nigerian students targeting schools abroad. The banks announced the changes in...
Access Bank has informed its customers that applications to obtain dollars for school fees abroad, maintenance/upkeep requests will now be determined by availability of the foreign...
The Naira had a breather on Thursday, October 6th as it appreciated against the United States after two straight days of losses at the Investors and...
On Thursday, Nigeria’s currency recorded a small positive trade against the US dollar. According to data published on the FMDQ website, where forex is officially traded,...
Godwin Emefiele-led Central Bank of Nigeria (CBN) has been accused by the Acting President of the Association of Nigerian Licensed Customs Agents (ANLCA), Kayode Farinto, of...
The Minister of State for Budget and National Planning, Prince Clem Agba has called on Nigerians to ditch the mentality of thinking foreign products are better...
The Nigerian currency has fallen significantly both at the official and unofficial markets. According to data released by the Nigerian Autonomous Foreign Exchange Fixing (NAFEX), where...
Nigerian Naira on Tuesday recorded a 1.16% rise in value against the US Dollar in the Investors and Exporters (I&E) segment of the market. According to...
The Central Bank of Nigeria (CBN) RT 200 programme has recorded a massive success as non-oil exporters have ramped up the repatriation of export proceeds through...
Nigerian currency has dropped to a record low at the black market as forex scarcity gives room for traders to profit. According to information from some...
Nigerian currency, Naira exchange rate to the dollar closed at N421.33/$1 at the official Investors and Exporters window on Monday, the same rate as it did...
Amid the lingering forex scarcity and dwindling external reserves, the Central Bank of Nigeria (CBN) has assured that there is enough in the nation’s reserve to...
The Nigerian currency on Wednesday weakened against the dollar at the official market amid increased demand for dollars by Nigerians. FMDQ securities data showed that Naira’s...
In the first four months (January to April) of 2022, the volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the foreign...
The naira on Thursday appreciated on the official market, after two consecutive days of losses to the US dollar. Data from FMDQ securities shows that the...
The foreign exchange (FX) supply on the official market affected the performance of the Naira against the United States dollar at the market on Monday, April...
The foreign exchange market ended the first trading week of April with Nigeria’s currency weaker than it started at the Investors and Exporters (I&E) forex window...
The Central Bank of Nigeria (CBN) has sanctioned Guaranty Trust Bank (GTBank), Access Bank, United Bank for Africa (UBA), and Stanbic IBTC for foreign exchange infractions....
Capital importation into Nigeria dropped to $6.7 billion in 2021 as foreign investors ran away from having their money trapped in Naira. The amount recorded in...
As dollar scarcity hits Nigeria’s forex market, frustrated manufacturers and travellers have been forced to patronise Bureau De Change (BDC) operators more often than before. To...
On Thursday, the naira weakend further to the US dollar for the second day in a row, despite the drop in demand at the official market....
Commercial banks have released more names of forex defaulters in compliance with the directive of the Central Bank of Nigeria (CBn) to publish the names of...
Naira opened the week with a poor performance against the US dollar as it depreciated at both the official and unofficial markets. Data from FMDQ securities...
Naira recorded a meagre appreciation against the U.S. dollar at the official market as concerns on the Central Bank of Nigeria (CBN) stopping the sales of...
Nigeria’s next leader after the administration of President Muhammdu Buhari could meet only $29.1. billion in the external reserves the International Monetary Fund has forecasted. The...
Naira fell massively at the black market on Thursday after traders learned that the Central Bank of Nigeria (CBN) was planning to halt dollar sales to...
On Thursday, Naira came under intense pressure at the Investors and Exporter window, the official exchange market, as participants closed $172.99 million worth of transactions. This...
Nigerian external reserves dropped to $40.49billion following the withdrawal of $21.8million from the reserves by the Central Bank of Nigeria (CBN) earlier in the week. Data...
