By Adedapo Adesanya

The Naira again depreciated against the United States Dollar by N7.16 or 0.53 per cent in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Friday, June 19, to N1,370.46/$1 from the previous day’s N1,363.30/$1.

In the same vein, the Nigerian currency lost N9.07 against the Pound Sterling at the official market yesterday to trade at N1,814.76/£1 compared with Thursday’s closing price of N1,805.69/£1, and crashed against the Euro by N6.43 to settle at N1,571.50/€1 versus N1,565.07/€1.

Also, the Naira weakened against the greenback in the black market during the session by N5 to sell for N1,390/$1, in contrast to the preceding day’s N1,385/$1, and at the GTBank FX desk, it shed N3 to close at N1,376/$1 versus N1,373/$1.

The official market’s FX liquidity has been facing pressure over the last three trading sessions, contributing to a decline in the official exchange rate due to rising demand for foreign payments.

FX reserves rose to $51.03 billion, the highest level since January 20, 2009, according to data obtained from the Central Bank of Nigeria (CBN). The figure also represents the highest since the beginning of the year and under the administration of the current Governor of CBN, Mr Yemi Cardoso.

The latest figure underscores the steady strengthening of Nigeria’s external buffers, which continues to reinforce investor confidence in the Nigerian economy and support exchange rate stability.

Meanwhile, the cryptocurrency market was mixed, with Bitcoin (BTC) up by 0.8 per cent to $63,225.80 after trading activity was relatively subdued due to a US federal holiday, as the absence of stock and bond market activity led to quieter conditions across crypto markets, even though digital assets continue to trade around the clock.

Further, TRON (TRX) also gained 0.8 per cent to sell at $0.3230, Binance Coin (BNB) jumped 0.5 per cent to $579.84, and Ethereum (ETH) appreciated by 0.1 per cent to $1,704.23.

On the flip side, Ripple (XRP) declined by 0.9 per cent to $1.13, Cardano (ADA) shed 0.8 per cent to trade at $0.1611, Solana (SOL) fell by 0.1 per cent to $69.23, and Dogecoin (DOGE) slipped by 0.1 per cent to $0.0831, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.

By Aduragbemi Omiyale

The gross foreign reserves of Nigeria reached a 17-year high of $51.04 billion, data from the Central Bank of Nigeria (CBN) shows.

Business Post gathered from the apex bank’s website that this new feat was achieved on Thursday, June 18, 2026.

A day earlier, which was Wednesday, June 17, 2026, the amount in the country’s external reserves stood at $50.96 billion, indicating accretion of 0.16 per cent.

This latest development is expected to strengthen the value of the Nigerian Naira in the foreign exchange (FX) market.

It was observed that since the beginning of this month, the amount in the forex reserves has been building up gradually after an initial scare.

It is believed that inflows from crude oil sales have been boosting the reserves, though prices are expected to trend downward as a result of the ceasefire deals between the United States and Iran on Friday.

The price of crude oil has cooled to around $80 per barrel. It should further moderate to its level before February 28, 2026, when the bombardment of Iran started, which led to the death of the country’s 86-year-old Supreme Leader, Ayatollah Ali Khamenei.

By Aduragbemi Omiyale

A €200 million financial partnership to support the development of small-scale investments of Nigerian enterprises contributing to the country’s green and digital economy has been signed by the Development Bank of Nigeria (DBN) and the development arm of the European Investment Bank (EIB) Group, EIB Global.

The funds would be disbursed to Micro, Small, and Medium Enterprises (MSMEs) in Nigeria, with a focus on agriculture, renewable energy, digitalisation and innovation.

The collaboration aligns with EIB Global’s strategy to support sustainable, inclusive, and resilient economic growth in Nigeria under the Global Gateway Initiative.

The investment programme will boost private sector development in Nigeria and support entrepreneurs and job creation by easing access to suitable finance for MSMEs and Midcaps.

It will also strengthen Nigeria’s green transition by expanding financing opportunities for companies in the renewable energy and agribusiness sectors.

In agriculture, it will help improve productivity, develop local supply chains, and strengthen food security for a country that hosts the largest population in Africa.

On the energy side, improved financing for renewable energy businesses will support clean energy access, reduce carbon emissions, and help build climate resilience in underserved communities.

“This partnership with DBN will strengthen the competitiveness of Nigeria’s private sector, especially for SMEs in the green and digital sectors.

“In supporting green projects and women entrepreneurs, we are also fostering inclusive growth and climate action.

“This is a powerful example of EIB’s real impact on the ground,” EIB Vice-President, Mr Ambroise Fayolle, said at a signature ceremony on Thursday, June 18, 2026, at the Lagos office of the DBN.

Also commenting, the chief executive of DBN, Mr Tony Okpanachi, described the investment as a significant milestone in efforts to drive Nigeria’s economic growth and sustainability.

“The €200 million investment from EIB Global is a significant milestone in our mission to drive Nigeria’s economic growth and sustainability. By supporting local financial institutions and MSMEs in key sectors like agriculture, renewable energy, digitalisation, and innovation, we’re empowering entrepreneurs and fostering a culture of sustainable innovation,” he stated.