Foreign Exchange

Why CBN Adopted Market-based Approach In Managing Forex – Cardoso

Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, has advanced reasons the monetary authority decided to adopt the policy of allowing market forces determine rates in the foreign exchange market in the

Victor Ezeja

2 months ago

Naira Rebound To N1,400, CBN Clearing Of FX Backlogs Not Yet Time For Celebration - Expert

Business·Currency·Finance & Economy·Latest News

Foreign Education, Medical Tourism Worsen FX Crisis, Costing Nearly $40bn – Cardoso Laments

Yemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), said foreign education and medical tourism on have contributed significantly in Nigeria’s foreign exchange (FX) crisis. Cardoso made the revelation when

Victor Ezeja

3 months ago

Business·Latest News

World Bank Blames Remittance Diversion On Exchange Rate Woes In Africa

World Bank's latest Migration and Development Brief, titled “Leveraging Diaspora Finances for Private Capital Mobilization,” underscores the adverse impact of fixed exchange rates and capital controls on remittance flows in Sub-Saharan Africa.

Emmanuel Ochayi

4 months ago

FEATURES·Finance & Economy

Top 15 African Countries With Strongest Currency Exchange Rate

Many African currencies have over the years suffered from weak value in the global exchange market due to dynamics in the economies of the countries. According to an International Monetary Fund (IMF)

Victor Ezeja

9 months ago

Finance & Economy

‘Tinubu’s Reforms Will Bolster Econonmic Growth’

A Stakeholder in Nigeria’s Energy Sector and a former Presidential Candidate, Mr. Gbenga Olawepo-Hashim, has indicated that Nigeria may be set for a huge economic growth owing to the current financial and

Victor Ezeja

10 months ago

The naira's value against the dollar took a hit at the start of the week, with exchange rates opening at N1,200/$1 on peer-to-peer (P2P) platforms

Business·Currency

Naira Falls To Dollar, As Exchange Rate Hits N463.02/$1

The official market ended foreign exchange (forex) trading on Wednesday, 10 May, at N463.02/$1, as the Dollar rate increased by N0.77 kobo. This contrasted with the N462.25 kobo/$1 foreign exchange rate FMDQ Exchange

Fakoyejo Olalekan

12 months ago

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

12 months ago

Business·Currency

Naira Recovery Knocks Down Dollar Rate In Official Market

Dollar rate in official market was down on Tuesday, 2 May 2023, with the Naira recovering from drop reported on Friday, 28 April. Due to the Workers’ Day public holiday on Monday,

Fakoyejo Olalekan

12 months ago

Naira Appreciates To N874 In Official Market Amid $2.25bn FX Support

Business·Currency

Naira To Dollar Exchange Rate Hit N462, MTN, 11 Plc CEOs Lament

The Naira extended its gain against the United States Dollar to the third day of trading in the official market, as the foreign exchange (forex) rate between both currencies closed at ₦462/$1

Fakoyejo Olalekan

12 months ago

Business·Currency

Dollar Rate Rises By N0.45 kobo, As Naira Devaluation Continues

On Wednesday, 5 April 2023, the Dollar rate closed trading at N463.75 kobo, as the Naira depreciated in value by –0.09 per cent in the official market. According to data obtained from

Fakoyejo Olalekan

1 year ago

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Why CBN Adopted Market-based Approach In Managing Forex – Cardoso

Foreign Education, Medical Tourism Worsen FX Crisis, Costing Nearly $40bn – Cardoso Laments

World Bank Blames Remittance Diversion On Exchange Rate Woes In Africa

Top 15 African Countries With Strongest Currency Exchange Rate

‘Tinubu’s Reforms Will Bolster Econonmic Growth’

Naira Falls To Dollar, As Exchange Rate Hits N463.02/$1

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

Naira Recovery Knocks Down Dollar Rate In Official Market

Naira To Dollar Exchange Rate Hit N462, MTN, 11 Plc CEOs Lament

Dollar Rate Rises By N0.45 kobo, As Naira Devaluation Continues

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