Experts link Naira’s recent gains to policy reforms, market confidence, consumption patterns
The naira has strengthened steadily against the US dollar in recent weeks, with experts attributing the rebound to bold policy ...
Tag: Foreign Exchange
CBN considers civil and criminal charges against FX deal violators after audit
The Central Bank of Nigeria (CBN) has announced plans to pursue civil, administrative, or criminal sanctions against parties found to ...
Breaking the FX Trader’s curse
Trillions of dollars are traded daily on the global foreign exchange (FX) market, making it one of the largest and ...
Nigeria posts $5.14 billion in Current Account Surplus, bolstering forex stability
Nigeria recorded a current account surplus of $5.14 billion, or 11.46% of GDP, in Q2 2024, representing a significant improvement ...
CBN sold $543.5 million FX to Nigerian banks in September to stem volatility
The Central Bank of Nigeria (CBN) announced it sold $543.5 million to authorized dealer banks between September 6 and September ...
Stanbic IBTC says FX gains constitute only 10% of its profit
Stanbic IBTC Plc, the Nigerian unit of Standard Bank Group Ltd., expects the proposed windfall tax on foreign exchange gains ...
Court freezes N548.6 Million belonging to ‘ByBit, KuCoin’ Nigerian crypto users over Naira fluctuation allegations
This development is part of a broader prosecutorial and legal campaign by federal government agencies to address alleged foreign exchange ...
FX turnover crashes by 21% in first two weeks of August amid CBN’s Retail Dutch Auction
The Nigerian official foreign exchange (FX) market experienced a marked decline in turnover during the first two weeks of August, ...
Nigeria’s exchange rate appreciates for third consecutive day, closes at N1,596.52/$1 on Wednesday
The naira has appreciated again to close below N1,600/$1 on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window.
Nigeria’s external reserve now $37 billion – Cardoso
Nigeria’s external reserves have increased yet again, reaching $37.05 billion as of July 18, 2024.
