Dollar rate

Investing In Wema Bank Shares More Profitable Than Hoarding Dollars In 2025

Year-to-date, investing in Wema Bank has been more profitable than hoarding the United States dollar (USD), according to analysis by Prime Business Africa. Between January 2 and July 23, the dollar has

Prime Business Africa

July 23, 2025

Business·Currency·Insights

2years Of BDC Ban: Dollar Hoarders Made Whopping 80% Gain From Emefiele’s Infamous Decision

Six days ago, the Central Bank of Nigeria (CBN) lifted the restriction placed on sales of foreign exchange to the Bureau De Change operators by the apex Bank’s suspended chief, Godwin Emefiele.

Fakoyejo Olalekan

August 24, 2023

CBN Releases Another Around Of $10,000 FX To Each BDC, Mandates Them To Sell At N1,117/$1

Business

Authorised Dealers Increase Price Of Dollars

The authorised dealers in the official market sold the United States Dollar (USD) at the rate of N774.77/$1 at the end of trading on Tuesday. According to data released by the FMDQ

Fakoyejo Olalekan

August 16, 2023

Business

Tinubu’s Ministerial Nominee, Wale Edun, Says Corruption, Others Behind Dollar Selling At N860

Wale Edun, one of the ministerial nominees of President Bola Tinubu, has disclosed that corruption and inefficiencies are behind the dollar trading as high as N860/$1. The special adviser on monetary policies

Fakoyejo Olalekan

August 2, 2023

Naira Appreciates At Official Market As Dollar Supply Rises On Friday

Business·Currency

Official Dollar Rate Drops To A Low Of N465, BDC USD Price Rises

In the Investors’ and Exporters’ window of the official market on Friday, the dollar was traded as low as N465/$1 and as high as N799.50/$1. However, the dollar depreciated by N7.16 kobo

Fakoyejo Olalekan

July 31, 2023

$471 million Lost To Nigeria’s Naira Devaluation – Airtel Africa Reveals

Business

Airtel Africa Loses $471 million To CBN’s Naira Devaluation

Airtel Africa has disclosed that the company suffered a foreign exchange loss of $471 million in the second quarter (Q2) of 2023. Despite the loss, the chief executive officer of Airtel Africa,

Fakoyejo Olalekan

July 28, 2023

External Reserves Fall To Two-Year Low, To Affect Tinubu’s N200/$1 Rate Ambition

Business·Insights

External Reserves Fall To Two-Year Low, To Affect Tinubu’s N200/$1 Rate Plan

The Central Bank of Nigeria (CBN) has reported that Nigeria’s foreign reserves dropped to $33.98 billion on Wednesday, 19 July. This is the lowest level since August 2021 when the external reserves climbed

Fakoyejo Olalekan

July 21, 2023

Business

Electricity Tariff To Rise By 30%, Discos To Factor In Inflation, Rising Dollar Rate

Stakeholders in the electricity sector have revealed that the cost of electricity will increase in December, as the tariffs will rise by 25-30%. According to the Director of Energy Markets and Rates

Fakoyejo Olalekan

June 19, 2023

Naira Opens Week With Gain Across FX Markets

Business·Currency

Investors, Exporters Buy Dollar At N462.25, USD Crunch Affect Forex Supply

Traders in the official market exchanged the Naira for Dollar at N462.25 kobo/$1 at the end of the session on Tuesday, 10 May. Although during trading, investors and exporters exchanged the United

Fakoyejo Olalekan

May 10, 2023

Naira Appreciates To N869/$1 As Experts Debate Stability

Business·Currency

Dollar Remains Strong Against Naira As Dangote Refinery Set To Free Up Forex

The exchange rate between the Naira and the Dollar settled at ₦462.78/$1 on Monday, 8 May, in the official market, which is backed by the Central Bank of Nigeria (CBN). At the

Fakoyejo Olalekan

May 9, 2023

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Investing In Wema Bank Shares More Profitable Than Hoarding Dollars In 2025

2years Of BDC Ban: Dollar Hoarders Made Whopping 80% Gain From Emefiele’s Infamous Decision

Authorised Dealers Increase Price Of Dollars

Tinubu’s Ministerial Nominee, Wale Edun, Says Corruption, Others Behind Dollar Selling At N860

Official Dollar Rate Drops To A Low Of N465, BDC USD Price Rises

Airtel Africa Loses $471 million To CBN’s Naira Devaluation

External Reserves Fall To Two-Year Low, To Affect Tinubu’s N200/$1 Rate Plan

Electricity Tariff To Rise By 30%, Discos To Factor In Inflation, Rising Dollar Rate

Investors, Exporters Buy Dollar At N462.25, USD Crunch Affect Forex Supply

Dollar Remains Strong Against Naira As Dangote Refinery Set To Free Up Forex

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