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Nigeria foreign exchange market

CBN Threatens To Sue FX Contract Violators

August 8, 2025

The Central Bank of Nigeria (CBN) has announced its intention to pursue legal actions against entities found to have violated foreign exchange (FX) forward contract regulations following a comprehensive forensic audit. The

Business News·Markets

Naira Drops Again At Official FX Market

June 25, 2025

The Nigerian naira has depreciated again at the official market within the week. The Central Bank of Nigeria (CBN) data on foreign exchange showed that the naira dropped to N1,549.04 on Tuesday,

Markets

Decline In FX Gain Slows UBA’s Profit Growth

April 7, 2025

After an impressive period in 2023, which saw the United Bank for Africa (UBA) record an impressive 256.88 percent increase in profit after tax (PAT), the company’s net income growth slowed significantly

Naira Ends Week With Marginal Gain Against Dollar

News

Forex Market Turnover Rises By 42.69% To $14.39bn

December 29, 2024

Foreign exchange market turnover in Nigeria rose by 42.69 per cent month-on-month to $14.39 billion (N23.95 trillion) in November 2024. This is according to the latest Monthly report released by FMDQ Securities

Nigerian In Diaspora Laments As Naira Falls By 769% Against Canadian Dollar In 10 Years

Business News·Currency·Markets·News

Nigerian Laments As Naira Falls By 769% Against Canadian Dollar In 10 Years

October 5, 2024

A Canada-based Nigerian, Mr Chinonso Charles, has lamented the steep depreciation of the naira in the foreign exchange market over the years. An analysis of the rate of exchange between naira and

Business News·Currency·News

Weak Naira: CBN Sells $543.5m To Boost FX Market

October 5, 2024

The Central Bank of Nigeria (CBN) has announced that it sold a total sum of $543.5 million to authorised dealer banks between 6 – 30 September 2024. According to a statement by

FEATURES·Markets

Exchange Rate Fluctuations And Impact On International Trade

September 20, 2024

By Lolade Akintayo As a financial analyst, analyzing exchange rate fluctuations and their impact on international trade requires a multi-dimensional approach. It’s not just about understanding the broad economic factors driving currency

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

Business News·Finance & Economy

Nigeria’s External Reserves Rises To $34bn, Highest Since March

June 28, 2024

Nigeria’s external reserves has surged to $34.07 billion in June. This was revealed in the latest forex reserves data published by the Central Bank of Nigeria (CBN) on its official website. The

CPPE Highlights Why Nigerian Govt Should Review Customs FX Rate For Cargo Clearance

Business News·Finance & Economy

Customs Exchange Rate For Import Duties Down By 23.8% In 1 Month

April 17, 2024

The foreign exchange (FX) rate for calculating import duties by the Nigeria Customs Service (NCS) has dropped by 23.8 per cent in one month.

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 1st July 2025

Business News·Currency·Finance & Economy

Naira Ends Week Positively, Inches Closer To Below ₦1,000/$1 Exchange Rate

April 13, 2024

Nigeria’s local currency, the naira, has continued to sustain its appreciation, ending the week on a positive note as it marches closer to below ₦1,000 mark in both parallel and official windows

Business News·News

Customs Forex Duty Rate Drops Again By 3% As Naira Strengthens Further

March 27, 2024

The Nigeria Customs exchange rate for calculating import duty at the nation’s ports has decreased further by 3 per cent on the back of continuous appreciation of the naira in the foreign

Naira Gains More As Exchange Rate Drops To N1,300/$1 At Official Market

Business News·Currency

Naira Drops To ₦1,602.43/$ After 3-Day Winning Streak In Official Market

March 6, 2024

The Nigerian local currency, the naira, has dropped again to ₦1,602.43/$1 after three consecutive days of trading below the ₦1,600/$1 mark in the official foreign exchange market window. According to data published

Business News·News

Forex Crisis: CBN Prunes Down Number Of BDCs To Almost 2009 Level

March 2, 2024

As the Central Bank of Nigeria (CBN) continues with its reforms of the foreign exchange market, it has reduced the number of Bureau De Change (BDC) operators to almost what it was

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

Business News·Currency·News

CBN Issues New Guidelines For BDCs Operations In Nigeria, Bars Financing Political Activities With Dollars

February 24, 2024

CBN has released a document containing revised regulatory and supervisory guidelines for Bureau De Change (BDC) Operations in Nigeria.

Business News

Nigeria’s Exchange Rate Will Soon Stabilise, Bagudu Assures Investors

January 15, 2024

Minister of Budget and Economic Planning, Atiku Bugudu, has assured investors that the exchange rate will soon stabilise following the president and Central Bank of Nigeria's economic reforms.

Business News·News

Nigerian Govt Expects Injection Of $10bn Within Weeks To Ease FX Crisis

October 24, 2023

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun has disclosed that the country is expecting an inflow of $10bn in Foreign Exchange in the coming weeks. He stated

Naira Vs Dollar: What To Expect This Week (2nd - 6th June 2025)

Business News·Currency

Official Forex Market Sees $53.02m Surge As Nigeria Lifts Ban On 43 Items

October 15, 2023

Forex Market witnessed a surge in turnover, totaling $53.02 million, following the Central Bank of Nigeria's decision to lift the ban on 43 items.

Finance & Economy

Nigeria’s FX Crisis Will Continue Until We Scale Up Production For Export’

August 24, 2023

The persisting foreign exchange crisis in Nigeria which has seen the naira fall to a record low, especially in recent time, will continue unless the country comes up with an effective strategy

Business News·Currency

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Nigeria foreign exchange market

CBN Threatens To Sue FX Contract Violators

Naira Drops Again At Official FX Market

Decline In FX Gain Slows UBA’s Profit Growth

Forex Market Turnover Rises By 42.69% To $14.39bn

Nigerian Laments As Naira Falls By 769% Against Canadian Dollar In 10 Years

Weak Naira: CBN Sells $543.5m To Boost FX Market

Exchange Rate Fluctuations And Impact On International Trade

Nigeria’s External Reserves Rises To $34bn, Highest Since March

Customs Exchange Rate For Import Duties Down By 23.8% In 1 Month

Naira Ends Week Positively, Inches Closer To Below ₦1,000/$1 Exchange Rate

Customs Forex Duty Rate Drops Again By 3% As Naira Strengthens Further

Naira Drops To ₦1,602.43/$ After 3-Day Winning Streak In Official Market

Forex Crisis: CBN Prunes Down Number Of BDCs To Almost 2009 Level

CBN Issues New Guidelines For BDCs Operations In Nigeria, Bars Financing Political Activities With Dollars

Nigeria’s Exchange Rate Will Soon Stabilise, Bagudu Assures Investors

Nigerian Govt Expects Injection Of $10bn Within Weeks To Ease FX Crisis

Official Forex Market Sees $53.02m Surge As Nigeria Lifts Ban On 43 Items

Nigeria’s FX Crisis Will Continue Until We Scale Up Production For Export’

Traders Pay More For Forex As Dollar Rate Rises In Official, Black Markets

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