Foreign Exchange
Naira Records N33.50 Gain In October As Reserves Hit $43.17bn
The Nigerian Naira recorded a notable gain of N33.50 against the United States dollar in the official foreign exchange market in October, supported...
CBN Denies Allocating $1.3bn For Fuel Importation
The Central Bank of Nigeria (CBN) has denied reports that it allocated $1.269 billion in foreign exchange for the importation of petroleum products...
FX Backlog Clearance, Transparency Drive Boost Nigeria’s Reserves — Cardoso
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, says the rise in Nigeria’s external reserves is linked to the clearance of...
External Reserves Hit Six-Year High on Forex Inflows
Nigeria’s gross external reserves have surged to $42 billion, marking their highest level in six years and boosting hopes of improved economic stability....
Ogun MAN Champions Alternative Finance Models to Revive Nigeria’s Manufacturing Sector Amid Economic Strain
In light of Nigeria’s challenging economic climate, George Onafowokan, Chairman of the Manufacturers Association of Nigeria (MAN), Ogun State Branch, has called on...
Naira Depreciates to N1,585 per Dollar in Parallel Market Amid Mixed Exchange Rate Movements
The Nigerian naira weakened further in the parallel market on Tuesday, trading at N1,585 per US dollar, a decline from N1,570 per dollar...
CBN Governor Assures Global Investors of Nigeria’s Economic Stability Amidst Ongoing Reforms
Nigeria’s central bank governor, Olayemi Cardoso, has conveyed a message of assurance to international investors, highlighting the significant strides being made in achieving...
Nigeria’s Forex Inflows Dip Amidst Shifting Dynamics and Naira Stability
New data released by the Central Bank of Nigeria (CBN) reveals a slight downturn in net foreign exchange inflows into the Nigerian economy,...
Foreign Reserves Surge to Three-Year High, CBN Reports
Nigeria’s net foreign exchange reserves (NFER) have reached a significant milestone, climbing to $23.11 billion by the end of 2024, marking the highest...