Despite the naira gaining against the dollar last week, it’s been reported that on Monday the naira fell to N1,030/$ in the parallel market making its gain last week futile.Naira lost N80 or what we...
Access Holdings FX gain has climbed by 71% to reach a record seven-year in the first nine (9) months of 2023, and this was attributed to the naira devaluation that suffered the nation's economy.Howeve...
The Central Bank of Nigeria (CBN) has revealed that Nigeria recorded a total of $10.7 billion in foreign exchange inflows into the country from April to May.The CBN made this known in its May economic...
The naira on Thursday depreciated to its worst ever since the negative trend began. At the parallel market, it reads 1,050/$ due to the shifting of the CBN Monetary Policy Committee meeting.On Wednesd...
Bloomberg reports that Nigeria's Finance Minister, Olawale Edun, announced that the fall in the naira was because of the overdue forward payments in the foreign exchange, which totaled $6.8 billion.&n...
The FMDQ Securities Exchange recently posted a total turnover of $417.9 million in its FX Spot and derivatives market segment for the week that finished August 25, 2023.The data released represents a ...
Recently, the CBN announced that it was working alongside commercial banks in Nigeria to clear the $10 billion foreign exchange backlog within the space of 2 weeks.This announcement was made on Tuesda...
On Thursday night, the Central Bank of Nigeria (CBN) introduced a foreign exchange (FX) price verification system (PVS) portal to assist importers have access to forex.Upon the announcement on Thursda...
After years of fixing FX prices, Nigeria's Central Bank floated the Naira in June. The loss of authority over the Naira was a critical step toward the elimination of Nigeria's numerous exchange rate w...
Moving towards enhancing the efficiency and transparency of the foreign exchange (FX) market, the Central Bank of Nigeria (CBN) issued a press statement on June 18, 2023. This statement serves as comp...