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 ...
Tag: Foreign Exchange
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.
Pharmaceutical companies can no longer cope with forex scarcity as multinationals withdraw- PMG-MAN
The Pharmaceutical Manufacturers Group of the Manufacturers Association of Nigeria (PMG-MAN) expressed serious concerns over the scarcity of foreign exchange ...
Nairametrics 2024 Q3 Outlook: Nigeria needs stable forex to attract FDIs – Olusegun Zaccheaus
As Nigeria grapples with inflationary pressures, Naira devaluation, and fluctuating investor confidence, experts emphasize the importance of establishing a predictable ...
Top 10 fastest growing sub-sectors of Nigeria’s economy in Q1 2024
Nigeria’s gross domestic product (GDP) in the first quarter (q1) of 2024 grew by 2.98%, higher than the 2.31% seen ...
