Nigeria emerged as a major recipient of diaspora remittances in Sub-Saharan Africa, capturing approximately 35% of the region’s total inflows in 2023. This is according to...
The Nigerian Autonomous Foreign Exchange Market, NAFEM, is set to record its lowest foreign exchange (FX) turnover in five months in June 2024, as dollar illiquidity...
The Governor of the Central Bank, Yemi Cardoso, stated that the country has already experienced the worst of naira volatility regarding foreign exchange. Cardoso said this...
Nigeria’s foreign exchange (FX) reserves have surged to their highest level since March 28, 2024, marking a significant financial milestone that coincides with the longest period...
The special adviser to the President on Information and Strategy, Bayo Onanuga, said Nigeria was spending a whooping sum of $1.5 billion monthly to peg foreign...
The Nigerian currency weakened in the official market while Nigeria’s headline inflation readings rose to a three-decade high in May, worsening the naira’s fortunes in the...
The foreign exchange (FX) turnover on the Nigerian official market crashed by 39.95% on Monday. It went from $269.27 million at the end of last week...
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has attributed the recent volatility in the foreign exchange market leading to the recent...
The naira stayed around a key support line in the country’s unofficial market as analysts expect Nigeria’s apex bank to increase interest rates later today. At...
MTN Nigeria has said that it utilized the improved liquidity in the FX market to reduce the balance of outstanding letters of credit (LC) obligations to...
MTN Nigeria has said that it utilized the improved liquidity in the FX market to reduce the balance of outstanding letters of credit (LC) obligations to...
Spot foreign exchange (FX) market turnover in March 2024 stood at $12.61 billion (N19.29 trillion), representing a month-on-month (MoM) increase of 47.66% ($4.07 billion) from what...