Forex

Nigerian Forex Market Update: Uncertainty Lingers As Naira Struggles Amid Policy Shifts

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

Emmanuel Ochayi

1 month ago

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

Business·Latest 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

Emmanuel Ochayi

4 months ago

Business·Latest 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

Emmanuel Ochayi

4 months ago

CBN’s FX Market Intervention Falls Short As Naira Struggles To Gain Ground

Business·Latest News·Markets

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

Emmanuel Ochayi

4 months ago

Business·Latest News·Markets

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

Emmanuel Ochayi

5 months ago

Business·Latest News·Markets

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

Emmanuel Ochayi

6 months ago

Business·Latest 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

Emmanuel Ochayi

6 months ago

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

Business·Latest 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

Emmanuel Ochayi

6 months ago

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

Business·Latest News·Markets

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.

Emmanuel Ochayi

7 months ago

Africa·Business·Latest News·Markets

Forex Policies Hindering Intra-African Trade, Says Transborder Traders Association

Nasiru Salami, the president of the Transborder Traders Association, voiced concerns about the impact of Nigeria’s forex policies on cross-border trade within Africa. Salami highlighted the challenges faced by small and medium

Emmanuel Ochayi

7 months ago

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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

Forex Policies Hindering Intra-African Trade, Says Transborder Traders Association

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