Tag
NFEM
Managing Director and Chief Executive Officer of FMDQ Group, Zeal Akaraiwe has explained why financial technology companies (fintechs) cannot directly trade in Nigeria’s foreign exchange market, citing regulatory restrictions, licensing requirements and the country’s exchange control framework.
The naira weakened to N1,332.75/$ at the Nigerian Foreign Exchange Market (NFEM) on October 7, 2026, after closing at N1,331.50/$ a day earlier, while NFEM turnover crossed $1 billion.
The naira closed at N1,331.50 per dollar on October 6, 2026, as foreign exchange market activity remained volatile at the start of October.
The naira closed at N1,332.90 per dollar on October 5, 2026, as foreign exchange activity remained mixed at the start of the new trading month.
Interbank foreign exchange turnover jumped 123% to $179.58 million on September 30, 2026, as the naira strengthened to N1,329.50/$ at the Nigerian Foreign Exchange Market (NFEM).
Turnover on the Nigerian Foreign Exchange Market (NFEM) plunged to $196.7 million on Monday, September 28, 2026, its lowest level in seven weeks, according to Central Bank of Nigeria (CBN) data.
Turnover on the Nigerian Foreign Exchange Market (NFEM) fell 17.7% week-on-week to $2.25 billion in the week ended September 25, 2026, extending the market’s decline for a second consecutive week.
The Nigerian naira experienced a slight strengthening against the US dollar on Friday, as shown by gains in both the official and parallel foreign exchange markets. The Naira rose from N1,552 per dollar on Thursday to N1,545/$ in the parallel market.
The naira settled at N2,205/£ against the British pound sterling on the informal market on Sunday. The Nigerian...
The Central Bank of Nigeria (CBN) has extended the deadline for Bureau de Change (BDC) operators to access the Nigerian Foreign Exchange Market (NFEM) for weekly FX purchases.