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FX

Preline Limited Splashes N17.55 billion On Eterna Plc’s Shares

Eterna Grows Profit By 388% — Despite N203m FX Loss In H1 2026

September 4, 2026

Eterna Plc grew its revenue to N217.31 billion in the first half (H1) of 2026, exceeding the N157.65 billion generated in H1 2025, representing a 37.84 percent growth. In the oil company’s

Black Market, Official Window Dollar Rates' Gap Widens To N127 After BDCs Hike USD Price

Business News·Top Stories

Naira Appreciates As FX Traders Reduce Dollar Rate In Official Window

June 9, 2026

Foreign currency traders in the Nigerian foreign exchange market (NFEM), also known as the official window, traded the United States dollar (USD) at N1,360.55 kobo per USD on Tuesday. According to data

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

Business News·Top Stories

Dollar Sells Above N1,400 Across Official, Black Markets

March 10, 2026

The foreign exchange (FX) rate for the United States dollar (USD) was N1,431.13 kobo per $1 on Tuesday, March 10, rising from N1,421 per $1 recorded on Monday, March 6. However, the

MTN Shareholders, Karl Toriola Lose N581.57bn Within Three Days

Business News·Top Stories

MTN Nigeria’s Voice Revenue Contribution Drops, Data Accounts For 53% Of Turnover

February 27, 2026

The voice turnover to MTN Nigeria’s total revenue dropped from 38.77 percent in 2024 to 35.55 percent in 2025, according to Prime Business Africa’s analysis. Although the voice revenue increased last year

Cornerstone Insurance's Profit Declines As Firm Fails To Curtail Rising Expenses

Business News·Top Stories

N3.57bn FX Loss, Trading Gain Decline… Why Cornerstone Insurance’s Profit Dropped By 67%

February 20, 2026

In 2025, a 36.92 percent increase in Cornerstone Insurance Plc’s revenue was not enough to stop the company’s net income from crashing by 67.85 percent. The revenue increased by double-digit from the

AIICO's Revenue Rises By 2%, Net FX Loss Increases To N1.79bn

Business News·Top Stories

How AIICO Insurance Prevented N2.81bn FX Loss From Hurting Bottom Line

February 18, 2026

Strong earnings shielded AIICO Insurance’s bottom line from a significant foreign exchange (FX) loss, enabling the company to close 2025 with a 25 percent increase in net income. AIICO Insurance recorded N191.77

Business News·Top Stories

First HoldCo’s Profit Up By 118% As FX Loss Drops To N64.94bn

April 22, 2025

The gross earnings of First HoldCo increased to N3.21 trillion in 2024, which is 105.70 per cent higher than the N1.56 trillion the company reported the previous year. According to First HoldCo’s

Nigerian Banks Face New FX Gain Tax: Impact On Profitability, Capital Adequacy

Business News·Markets·News

Nigerian Banks New FX Gain Tax: Impact On Profitability, Capital Adequacy

July 19, 2024

Nigerian banks are at risk of facing profits and capital adequacy declines as the Federal Government plans to tax 50 per cent of profits realised from foreign exchange (FX) revaluation in 2023.

Business News·News

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

June 27, 2024

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

Naira Appreciates, Ends Week Positive Across Official, Black Markets

Business News·Markets·News

FX Turnover Plummets 76% In Nigerian Market Amidst Holiday, Economic Volatility

June 14, 2024

The foreign exchange (FX) turnover on Nigeria’s official market experienced a dramatic drop of 75.98%, hitting a three-week low on Thursday. The turnover fell from $385.91 million at the end of Tuesday’s

Business News·Markets·News

Naira Gains Against Dollar As Market Awaits US Inflation Data

June 13, 2024

The naira made some gains against the US dollar as the dollar index moderated. Market players are awaiting the release of America’s inflation data and the Federal Reserve’s interest rate decision later

Business News·Markets·News

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

June 9, 2024

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

Business News·News

How FX Gain Now Major Source Of FAAC Revenue – Report

June 8, 2024

Foreign exchange (FX) gains have emerged as a significant revenue source for Nigeria’s Federation Account Allocation Committee (FAAC), according to a recent report by Agora Policy, a think-tank organisation. The report, titled

6 Factors Behind Poor Performance Of Nigeria’s Oil & Gas Stocks This Year

Business News·Markets·News

Equity Market Sees Second Consecutive Day Of Gains, Investors Gain N303bn

May 3, 2024

The Nigerian equity market defied expectations on Thursday, May 2, 2024, as investors recorded gains for the second consecutive day. The market’s benchmark index appreciated by 0.55% to 98,762.78 points, driven by

Business News·News

Nigeria’s FX Reserves Drop By $2.16bn In 29 Days

April 17, 2024

Nigeria’s foreign exchange (FX) reserves are taking a sharp nosedive, with a decrease of approximately $2.16 billion over a span of 29 days, despite the Central Bank of Nigeria (CBN) striving to

Business News·Currency·Markets·News

FX: Naira Depreciates To N1,610/$1 At Parallel Market

March 18, 2024

The Naira experienced a setback on Monday, slipping to N1,610 against the Dollar in the parallel section of the foreign exchange (FX) market. This marks a 0.63 percent decline from the N1,600/$

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

Business News·Currency·Finance & Economy·News

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

February 6, 2024

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

NGX ASI Further Drops By 0.67%, As BUA Cement, Eterna Among Top Losers

Business News·Markets·News

NGX Canvasses Government Support For Listed Corporates To Tackle FX Challenges

November 22, 2023

Temi Popoola, CEO of the Nigerian Exchange Limited (NGX), has called upon the Federal Government and the Central Bank of Nigeria (CBN) to prioritize listed corporates in their procurement processes and streamline access

Business News

Access Bank To Deny Non-account Holders Access To Dollar, Others In Five Months, Set FX Allocation Limit

July 17, 2022

Access Bank has reviewed its foreign currency allocation for Maintenance/Upkeep of Nigerian students in foreign tertiary institutions, as dollar scarcity extends into the second half of the year. The bank said abroad

Business News·Currency

Dollar To Naira Exchange Rate: Dollar Sells At N421 As Trade Value Drops

June 28, 2022

June 27, 2022: Trading at the Investors and Exporters (I&E) window saw an exchange of $152.96 million, falling by $10.02 million, as the naira depreciated on the official foreign exchange market on

Nigeria's President Muhammadu Buhari has been urged to ensure he quickly assents to the amended Electoral Bill as passed by the National Assembly.

Business News

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FX

Eterna Grows Profit By 388% — Despite N203m FX Loss In H1 2026

Naira Appreciates As FX Traders Reduce Dollar Rate In Official Window

Dollar Sells Above N1,400 Across Official, Black Markets

MTN Nigeria’s Voice Revenue Contribution Drops, Data Accounts For 53% Of Turnover

N3.57bn FX Loss, Trading Gain Decline… Why Cornerstone Insurance’s Profit Dropped By 67%

How AIICO Insurance Prevented N2.81bn FX Loss From Hurting Bottom Line

First HoldCo’s Profit Up By 118% As FX Loss Drops To N64.94bn

Nigerian Banks New FX Gain Tax: Impact On Profitability, Capital Adequacy

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

FX Turnover Plummets 76% In Nigerian Market Amidst Holiday, Economic Volatility

Naira Gains Against Dollar As Market Awaits US Inflation Data

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

How FX Gain Now Major Source Of FAAC Revenue – Report

Equity Market Sees Second Consecutive Day Of Gains, Investors Gain N303bn

Nigeria’s FX Reserves Drop By $2.16bn In 29 Days

FX: Naira Depreciates To N1,610/$1 At Parallel Market

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

NGX Canvasses Government Support For Listed Corporates To Tackle FX Challenges

Access Bank To Deny Non-account Holders Access To Dollar, Others In Five Months, Set FX Allocation Limit

Dollar To Naira Exchange Rate: Dollar Sells At N421 As Trade Value Drops

Buhari Promises To Ease Importation For Manufacturers Through Forex Supply

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Lithium: Will Nigeria Repeat the Oil Curse?

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