Browsing Tag
Foreign Exchange
9 posts
ADP Official Claims President Tinubu’s Economic Reforms Burden Citizens
Action Democratic Party leader Chris Emejuru warns that President Tinubu’s economic reforms, while well-meaning, are creating severe hardships for Nigerians and suggests alternative implementation strategies.
Naira experiences mixed performance across official and parallel markets
The naira slipped to N1,415 per dollar in the parallel market while gaining ground in the official exchange sector.
Nigerian Naira Experiences Slight Decline Against US Dollar on July 27, 2026
The Nigerian naira weakened slightly against the US dollar in the official market on Monday, while black market rates remained stable at N1,410.
Naira Gains Strength Against Dollar in Parallel and Official Markets
The Naira strengthened to N1,409 per dollar in the parallel market and improved to N1,374.5 in the official NFEM as trading turnover increased.
Dangote Refinery boosts fuel exports amid supply and currency hurdles
Dangote Refinery is prioritizing international fuel exports to offset severe local crude shortages and an inability to convert naira earnings into the foreign currency needed for operations.
CBN Issues 24-Hour Liquidation Mandate for Unused FX Held by BDCs
The Central Bank of Nigeria has directed Bureau De Change operators to return all unused foreign exchange to the Nigerian Foreign Exchange market within 24 hours or face regulatory sanctions.
Central Bank of Nigeria Mandates BDCs to Return Unused FX to NFEM
The Central Bank of Nigeria has ordered BDCs to return unutilized foreign exchange to the NFEM market within 24 hours of the expiration of the utilization period to improve retail liquidity.
Naira weakens against dollar in both official and parallel markets
The Naira recorded losses in both official and parallel exchange markets on Wednesday, narrowing the price gap between the two sectors.
Naira Has Reached Its Appropriate Market Price, Presidency Claims
Bayo Onanuga, a presidential aide, claims that foreign exchange reforms have allowed the naira to settle at its true market value despite current fluctuations.