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Forex

Zimbabwe Imposes $100,000 Fine On Forex Violators In New Crackdown

The Reserve Bank of Zimbabwe (RBZ) has announced a tough new policy introducing heavy fines for those who breach foreign exchange regulations, setting a minimum penalty of US$100,000 or 1 percent of the transaction value, whichever is higher. The announcement, made on

August 16, 2025

Naira Falls Against Dollar In Black Market As Demand Increases In FX Market

Business·Markets·News

Naira Falls Amid Increased Forex Turnover To N15.74tn, Says FMDQ Report

Forex Turnover Soars as Naira Weakens The value of foreign exchange turnover in Nigeria surged to N15.74 trillion in August 2024, marking a 33.88% increase from July’s N13.23 trillion. This rise reflects intensified trading and investor activity, according to an FMDQ report.

September 26, 2024

Forex Crisis Hits Nigerian Ports As Operators Lament 2.39% Drop in Container Import

Business·News

Forex Crisis Hits Nigerian Ports, Operators Lament 2.39% Drop in Container Import

Licensed Customs Agents Blame Forex Crisis for Decline The forex crisis has caused a 2.39% drop in container throughput at Nigerian ports in Q1 2024, according to licensed customs agents. Nigerian Ports Authority Reports Decline Nigerian Ports Authority (NPA) revealed a 2.39%

July 2, 2024

Business·News

Forex Crisis Costs Nigeria Over $500m Annually, Importers Warn

The ongoing forex crisis in Nigeria has resulted in financial losses and operational challenges for importers. According to Dr. Basil Nwaolisa, the National Coordinator of Customs, Shipping, and Terminal Operations of the Importers Association of Nigeria, the country is losing over $500

June 27, 2024

Naira vs Dollar: What To Expect This Week (24th-30th, March 2025)

Business·Markets·News

Naira Holds Steady In Official Market Amid Parallel Market Fluctuations Within Fitch Ratings projection

Official Market Stability The Nigerian naira has shown stability in the official market, aligning with projections by Fitch Ratings. Despite trading within the N1500 range against the U.S. dollar in the parallel market, the official rate has demonstrated resilience. “The naira’s stability

June 24, 2024

Business·Markets·News

Nigeria’s FX Reserves Rises To $32.8bn After 10-week Slump

Nigeria’s foreign exchange (FX) reserves have shown a notable increase over the past six days, indicating a potential recovery for the economy’s external reserves. According to data from the Central Bank of Nigeria (CBN), accessed on Sunday, the reserve stood at $32.80

June 9, 2024

Business·Markets·News

Naira Decline Breaks Four-Day Winning Streak, Falls To N1485/$1 Amid Forex Market Volatility

The naira’s four-day winning streak ended on Thursday as it depreciated by 1.55%, closing at 1485.66/$1 on the official market. This marks the currency’s lowest level since March 20, when it traded at 1492.61/$1, according to the latest data from the FMDQ.

May 24, 2024

Business·News

Forex Crisis: 3 States Govts Seek Suspension of $501m Foreign Debts

State governments in Nigeria are facing the brunt of the foreign exchange (Forex) crisis and are seeking relief from their debt repayment burdens. Ekiti, Cross River, and Ogun states have jointly proposed a suspension of their foreign debt repayments totaling $501 million.

May 9, 2024

NMDPRA: Nigerian Govt Will Not Fix Price For Petroleum Products From Dangote Refinery, Pushes CNG Expansion

Business·News·Oil & Gas

Dangote Refinery: How Forex Shortage Is Delaying Crude Supplies

The $20 billion refinery project in Nigeria, the brainchild of Africa’s richest man, Aliko Dangote, is having payment problems, which is delaying the discharge of crude oil shipment from Chinese state energy giant PetroChina. Since March 28, two million barrels of West

April 26, 2024

Forex Crisis: CBN Sells $122.67m To 46 Authorised BDC Operators

Business·Markets·News

Tighten Access To Forex For Non-Oil Exporters- ABCON Tells CBN

The Association of Bureau De Change Operators of Nigeria (ABCON) has called on the Central Bank of Nigeria (CBN) to tighten access to foreign exchange (forex) for non-oil exporters. ABCON President, Dr. Aminu Gwadabe, emphasized the need for this measure during a

April 11, 2024

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Forex

Zimbabwe Imposes $100,000 Fine On Forex Violators In New Crackdown

Naira Falls Amid Increased Forex Turnover To N15.74tn, Says FMDQ Report

Forex Crisis Hits Nigerian Ports, Operators Lament 2.39% Drop in Container Import

Forex Crisis Costs Nigeria Over $500m Annually, Importers Warn

Naira Holds Steady In Official Market Amid Parallel Market Fluctuations Within Fitch Ratings projection

Nigeria’s FX Reserves Rises To $32.8bn After 10-week Slump

Naira Decline Breaks Four-Day Winning Streak, Falls To N1485/$1 Amid Forex Market Volatility

Forex Crisis: 3 States Govts Seek Suspension of $501m Foreign Debts

Dangote Refinery: How Forex Shortage Is Delaying Crude Supplies

Tighten Access To Forex For Non-Oil Exporters- ABCON Tells CBN

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Dangote Deploys 4,000 CNG Trucks, Promises 24,000 Jobs Nationwide

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