FX Market

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

FX Market Closes August On a Downward Trend As Naira Continues To Weaken

Naira Struggles in FX Market at Month-End The foreign exchange (FX) market witnessed a challenging end to August, with the naira recording significant losses against the dollar across various trading platforms. The

Emmanuel Ochayi

September 3, 2024

Business·Markets·News

Capital Reversals Drive $1 Billion Outflow In Nigeria’s FX Market

Capital Outflows Surge in FX Market Nigeria’s FX market experienced a significant rise in capital outflow, reaching $1 billion in April 2024, a 35.14% increase from $740 million recorded in March. The

Emmanuel Ochayi

August 26, 2024

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

Business·Markets·News

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

CBN’s FX Market Intervention: A Limited Impact On August 6, the Central Bank of Nigeria (CBN) made headlines with its largest single-day dollar sale, offloading $815 million directly to various businesses, including

Emmanuel Ochayi

August 21, 2024

How Nigeria's FX Reserves Dropped By $1.3bn– Report

Business·Markets·News

CBN Intervenes In FX Market With $122.67m Sales To 46 Authorised Dealers To Promote Stability

Central Bank of Nigeria (CBN) Moves to Stabilize FX Market with US$122.67 Million Sale In a move to stabilize the FX market, the Central Bank of Nigeria (CBN) on Friday sold US$122.67

Emmanuel Ochayi

July 13, 2024

Intra-Africa Trade: Nigeria Ranks Fourth, Follows South Africa, Cote d’Ivoire, Egypt

Business·Markets·News

Nigeria Was Spending $1.5bn Monthly To Defend The Naira Before Tinubu’s FX Reforms – Onanuga

Nigeria’s Special Adviser to the President on Information and Strategy, Bayo Onanuga, has revealed that the country was spending a sum of $1.5 billion monthly to maintain a fixed foreign exchange (FX)

Emmanuel Ochayi

June 18, 2024

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

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

Emmanuel Ochayi

June 9, 2024

Business·Markets·News

Naira Stable On More Dollar Sales

The naira remained stable across foreign exchange markets on Tuesday, with a surge in dollar sales by 94.46% at the official market. Despite the fluctuations, the local currency showed resilience, reflecting the

Emmanuel Ochayi

June 5, 2024

Nigerian Naira Vs U.S. Dollar: What To Expect This Week (17th-22nd, March 2025)

Business·Markets·News

Naira Weakens To N1,484/$1 Amid Dollar Shortage In FX Market

The naira weakened further on Thursday at the official foreign exchange market due to a drop in dollar sales by market players. The naira lost 10.45 percent of its value, with the

Emmanuel Ochayi

May 31, 2024

Business·Markets·News

EFCC Raids Speculators In Abuja, Lagos Others As Naira Continues To Depreciate

In a bid to curb illegal currency trading and stabilize the Nigerian currency, the Economic and Financial Crimes Commission (EFCC) intensified its efforts, conducting raids on Bureau De Change (BDC) operators across

Emmanuel Ochayi

May 15, 2024

Naira Ends Week With N30 Gain In Black Market: Hope For Naira?

Business·Markets·News

Naira Slips To N1,421/$1 At Official Markets, Analysts Warn Of Lingering FX Instability

The Naira took a slight dip on Wednesday, closing at N1,421/$ at the Nigerian Autonomous Foreign Exchange Market (NAFEM). This marks a 1.27 percent drop from the previous day’s rate of N1,403/$,

Emmanuel Ochayi

May 9, 2024

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FX Market Closes August On a Downward Trend As Naira Continues To Weaken

Capital Reversals Drive $1 Billion Outflow In Nigeria’s FX Market

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

CBN Intervenes In FX Market With $122.67m Sales To 46 Authorised Dealers To Promote Stability

Nigeria Was Spending $1.5bn Monthly To Defend The Naira Before Tinubu’s FX Reforms – Onanuga

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

Naira Stable On More Dollar Sales

Naira Weakens To N1,484/$1 Amid Dollar Shortage In FX Market

EFCC Raids Speculators In Abuja, Lagos Others As Naira Continues To Depreciate

Naira Slips To N1,421/$1 At Official Markets, Analysts Warn Of Lingering FX Instability

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