Nigeria Forex Inflows Hit Five-Month High
Total inflows into the Nigerian Foreign Exchange Market (NFEM) climbed to a five-month high of $4.36 billion in July, driven by stronger Central Bank of Nigeria (CBN) interventions and increased…
CBN Warns Against Rejecting Standard 100 Naira
The Central Bank of Nigeria (CBN) has warned businesses, the public, and other stakeholders not to reject the standard ₦100 banknote, stressing that it remains a valid means of payment…
How Oil Prices Shape Nigeria’s Economy
Nigeria’s economy has long depended on the performance of the global oil market, with crude exports remaining a major source of government income and foreign exchange earnings. Although efforts to…
Naira depreciated against dollar as official market returns to bearish trend
The Naira depreciated against dollar at the official foreign exchange market on Tuesday, reversing gains recorded a day earlier. Data released by the Central Bank of Nigeria (CBN) showed the…
Naira Rebounds at Official Market as External Reserves Climb to $45.82bn
|By Babatunji Wusu The naira on Thursday reversed its midweek loss, appreciating against the United States dollar at the official foreign exchange market, according to data from the Central Bank…
Naira Crashes Again, Hits N1,580/$1 in Black Market Amid Rising FX Demand
|By Adejumo Adekunle- – Local currency plunges by N55 in a day– Official exchange rate tumbles to N1,512/$1– External reserves shrink to $34.34bn The Nigerian naira has suffered another severe…
Naira Slips at Black Market, Inches Up Officially in Mixed FX Trend
|By Adejumo Adekunle- Parallel market rate tumbles to N1,515 per dollar CBN data shows slight appreciation to N1,491.67 per dollar Volatility persists as Naira fluctuates across FX markets The Naira…
Naira Strengthens Further, Closes Gap with Official Rate
|By Adejumo Adekunle- – Black market rate hits N1,500 per dollar – FX market shows narrowing disparity – CBN maintains interest rate pause The Naira has extended its upward trend…
Naira Weakens Further Against Dollar as Depreciation Continues for Second Day
|By Adejumo Adekunle – Parallel Market Sees Naira Drop to N1,580 per Dollar Official Exchange Rate Slips to N1,503.07 per Dollar Currency Faces Consecutive Declines Amid Forex Volatility The Naira…
Naira Slips at Official Market, Holds Steady in Parallel Market as CBN Extends FX Sales
|By Adejumo Adekunle – Local currency weakens to N1,495.60/$1 at official window Black market rate remains stable at N1,610/$1 CBN extends FX sales to BDCs until May 30, 2025 The…
