FX Supply

CBN Stops Foreign Oil Firms From Remitting 100% FX Proceeds Abroad

February 15, 2024

By Adedapo Adesanya The Central Bank of Nigeria (CBN) has stopped international oil companies (IOCs) operating in Nigeria from immediately remitting 100 per cent

Economy

Naira Strengthens by 1.8% at NAFEM as FX Supply Surges 182%

February 3, 2024

Adedapo Adesanya

By Adedapo Adesanya The Naira closed the week on a strong foot against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market

Economy

Naira Appreciates to N1,455.59/$1 at Official Market as CBN Barks

February 1, 2024

Adedapo Adesanya

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Wednesday, January 31, after the

Economy

Bagudu Optimistic New Measures to Tackle Oil Theft Will Boost FX Supply

January 12, 2024

Adedapo Adesanya

By Adedapo Adesanya The Minister of Budget and Economic Planning, Mr Atiku Bagudu, has expressed confidence that the measures taken so far would substantially

Economy

Naira Weakens to N988.46/$1 at NAFEM as FX Supply Shrinks to $15m

January 3, 2024

Adedapo Adesanya

By Adedapo Adesanya The Naira got underway in 2024 with an 8.9 per cent or N81.35 depreciation against the Dollar to trade at N988.46/$1

Economy

Naira Sells N806.73/$1 at Official Market Amid 92.9% Jump in Forex Supply

December 6, 2023

Adedapo Adesanya

By Adedapo Adesanya The supply of foreign exchange (FX) into the Nigerian Autonomous Foreign Exchange Market (NAFEM) improved by 92.9 per cent or $68.7

Economy

Naira Appreciates to N738/$1 at I&E Amid 138.6% Surge in FX Trades

August 31, 2023

Adedapo Adesanya

By Adedapo Adesanya The Nigerian Naira eased recent pressure against the US Dollar in the Investors and Exporters (I&E) arm of the foreign exchange

Economy

Naira Crashes to N793.70/$1 at I&E, N845/$1 at Parallel Market, N864/$1 at P2P

July 20, 2023

Adedapo Adesanya

By Adedapo Adesanya The foreign exchange (FX) crisis in Nigeria took its toll on the Naira in the currency market yesterday, as it depreciated

Economy

Naira Appreciates at Official Market, P2P, Falls at Parallel Market

July 6, 2023

Adedapo Adesanya

By Adedapo Adesanya The Naira regained a part of its lost ground to the United States Dollar on Wednesday in the Investors and Exporters

Economy

Naira Appreciates Against Dollar Despite FX Supply Crunch

July 9, 2022

Adedapo Adesanya

By Adedapo Adesanya The Naira appreciated at both the Peer-to-Peer (P2P) and Investors and Exporters (I&E) segments of the foreign exchange (forex) market on

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