The Central Bank of Nigeria (CBN), on Monday reiterated its position that about $2.4 billion out of the claimed backlog of $7 billion forex claims were...
The Bank of Ghana has suspended the Foreign Exchange trading licenses of Guaranty Trust Bank Ghana Limited and FBN Bank Ghana Limited (FBN) for one month...
A former Vice-President, Atiku Abubakar has blamed the forex policy of the administration of President Bola Ahmed Tinubu for the current poverty and economic hardship in...
The Federal Government on Saturday promised to implement macroeconomic reforms to stabilise the foreign exchange market. The Minister of Information and National Orientation, Mohammed Idris, gave...
The Central Bank of Nigeria (CBN) has resolved to prosecute forex defaulters in the country. The apex bank’s Acting Director of Communication, Mrs. Sidi Ali, disclosed...
The Central Bank of Nigeria (CBN) has released $61.6 million to foreign airlines through various Deposit Money Banks (DMBs). The CBN’s Acting Director of Corporate Communications,...
The Economic and Financial Crimes Commission (EFCC) has reportedly summoned some officials of the Dangote Group to Abuja to come along with detailed documents on foreign...
The Naira further slumped against the dollar at both the official market and the parallel market on Wednesday 22nd of November 2023 to close at N840.53/$1....
President Bola Tinubu said on Monday his government has taken steps to improve foreign exchange liquidity in the country. The president, according to a statement issued...
The Central Bank of Nigeria (CBN) on Thursday promised to intervene in the foreign exchange regularly in a bid to boost its liquidity. In a statement...
There are fears that the prices of fuel products may increase as irregular foreign exchange rate fluctuations, has left many petroleum product depots vacant. Consequently, oil...
The founder of Erisco Foods Limited, Eric Umeofia, has alleged that there are racketeers that determine who gets foreign exchange from the Central Bank of Nigeria...
The total foreign exchange transactions in the investors’ and exporters’ window of the official market fell to $64.14 million on Monday, as the dollar rate increased....
FMDQ Exchange reported that the authorised dealers in the official window increased the rate of the United States Dollar (USD) by N9.76 kobo to N747.76/$1 on...
Members of the Association of Bureaux De Change Operators of Nigeria (ABCON) are considering a merger as they struggle with foreign exchange volatility and scarcity. ABCON...
The director of the banking supervision department of the Central Bank of Nigeria (CBN), Haruna Mustafa, said deposit money banks (DMBs) have been barred from using...
The exchange rate between the naira and the United States Dollar (USD) closed at N736.62/$1 on Friday in the Investors’ and Exporters’ window, indicating stability in...
In the next two weeks, the Central Bank of Nigeria (CBN) intends to inject $10 billion into the foreign exchange market to clear the forex backlog...
While forex trading in Nigeria is gaining popularity, there is still a large population that has no idea how to approach this market. As a new...
The spokesperson for the Airline Operators of Nigeria (AON), Obiora Okonkwo, has requested a special foreign exchange window for airline operators to access dollars. Okonkwo said...
The decision of President Bola Tinubu to halt the payment of fuel subsidies continue to elicit reactions from various stakeholders with a former presidential aide, Doyin...
The Central Bank of Nigeria (CBN) on Friday released fresh guidelines for the sale of foreign exchange by Bureau De Change (BDC) operators in the country....
Human rights attorney Femi Falana has stated that the decision by the Central Bank of Nigeria (CBN) under President Bola Tinubu to float the naira is...
In a bid to sanitise the foreign exchange market, the Central Bank of Nigeria (CBN) has introduced a foreign exchange price verification system, specifically designed for importers to...
The Nigeria Employers’ Consultative Association {NECA}, on Wednesday, counseled the Federal Government on the need to ramp up crude oil production to the 1.8 million barrel...
The foreign exchange crisis currently rocking the country and making life difficult for Nigerians has led the Tertiary Education Trust Fund (TETFund) into considering the suspension...
Foreign exchange traders in the Investors’ and Exporters’ window of the official market transacted $54.18 million worth of forex on Friday. The authorised dealers and clients...
Acting Governor of the Central Bank of Nigeria (CBN), Folashodun Shonubi, has disclosed that the financial regulator will intervene in the foreign exchange (Forex) market. The...
The Central Bank of Nigeria (CBN) said the country’s economy is exposed to the fluctuation of prices and rates in the petroleum market and the foreign...
Hello, and welcome to Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market to the...
Foreign exchange (Forex) scarcity will persist in Nigeria as the country’s external reserves fell to the lowest level since August 2021, data from the Central Bank...
On Monday, the authorised dealers reduced their asking price for the United States Dollar to N795.28 kobo/$1 by the close of trading in the official market....
The value of foreign exchange transacted in the Investors’ and Exporters’ window dropped to $46.90 million on Friday, as the cost of the dollar rose. Authorised...
Hello, and welcome to Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market to the...
FMDQ Exchange has revealed that the total foreign exchange inflow into the Investors’ and Exporters’ window increased to $1.41 billion in June. During the previous month,...
At the end of business hours on Wednesday, the official dollar rate in the investors’ and exporters’ (I&E) window depreciated slightly by N5.93 kobo. This shows...
Authorised dealers sold the United States Dollar (USD) at a reduced rate of N741.50/$1 in the investors’ and exporters’ window of the official market on Monday....
A Senior Special Assistant on Media and Publicity to former President Muhammadu Buhari on Monday explained why his principal refused to remove the fuel subsidy in...
The former Deputy Governor of the Central Bank of Nigeria (CBN), Kingsley Moghalu, has said the foreign exchange (Forex) reforms and fuel subsidy removal by President...
Godwin Emefiele has been accused by George Uboh, the Chairman of the George Uboh Whistleblowers Network, of detaining him for 101 days in 2019. Uboh claimed...
At the black market on Thursday, the average rate of the dollar was N756.8/$1, indicating the price offered in the Bureau De Change window went up...
The FMDQ Securities Exchange reported on Thursday that the exchange rate of the Naira to Dollar settled at N463/$1. According to the foreign exchange (forex/FX) rate...
The total foreign exchange transacted on Monday in the official market was $55.10 million, falling below the value transacted the previous session by 65.9 per cent....
It cost investors and exporters N462.73 kobo to buy $1 at the close of trading in the official market on Thursday, as the Naira depreciated by...
The World Bank has recommended a single foreign exchange (Forex) market, urging Nigeria to do away with its multiple forex markets. In its latest ‘Macro Poverty...
Forex trading is one of the most popular and profitable investment strategies around. It involves the simultaneous buying of one currency and selling another in the...
Many Nigerians are familiar with the spot forex market, where forex transactions are carried out on the spot as seen with bureau de change, but the retail online forex market is where currencies...
The value of Nigerian currency increased on Wednesday against the US dollar at the official market. Data from FMDQ securities shows that the naira gained after...
The Naira suffered losses against the United States Dollar in the parallel market and the Peer-to-Peer (P2P) windows of the foreign exchange (forex) market on Wednesday....
The value of Nigerian currency closed flat against the US dollar at the investor’s and exporters’ window of the official market on Tuesday. FMDQ securities reports...
