Tag: external reserves

Naira gains, but $1.14bn reserves drop signals pressure on CBN strategy

Business Damilola Bayonle -
Naira Rises as CBN Mops Up N2.3trn, Despite $1.14bn Reserves Pressure Nigeria’s currency strengthened last week after aggressive liquidity tightening...

Naira gains ground: Currency strengthens to N1,357/$ as oil prices and reserves rise

Business Damilola Bayonle -
Nigeria’s foreign exchange market opened the week on a positive trajectory, as improved dollar inflows and rising crude oil...

Nigerian FX revival sccelerates as CBN reforms and rising oil prices strengthen naira

Business Damilola Bayonle -
Nigeria’s foreign exchange (FX) market is showing remarkable resilience as reforms spearheaded by the Central Bank of Nigeria (CBN)...

Naira ends January stronger at 1,386/$ as FX stability returns

Business Damilola Bayonle -
Nigeria’s currency ended January 2026 on a stronger footing, with the naira appreciating against the United States dollar at...

Naira under pressure again as dollar supply crunch hits FX markets

Business Damilola Bayonle -
Naira Weakens as FX Supply Constraints Persist Across Markets Nigeria’s currency market came under renewed pressure last week as the...

NESG naira projection gets a boost: N1,480/$ target with $52bn reserves

Business Damilola Bayonle -
Nigeria’s currency and macroeconomic outlook is expected to improve steadily in 2026 as the Nigerian Economic Summit Group (NESG)...

Eurobond success lifts naira, external reserves as investor confidence rebounds

Business Damilola Bayonle -
Nigeria’s financial markets ended the first week of November on a cautiously optimistic note as the Eurobond success lifts...

FG’s $2.35bn External Borrowing Plan Explained by DMO

Business Damilola Bayonle -
Nigeria’s Debt Management Office (DMO) has provided clarity on the FG’s $2.35bn external borrowing plan, describing it as a...

Naira records strongest gain against dollar as external reserves Hit $41.24b

Business Damilola Bayonle -
The Nigerian Naira recorded its highest single-day gain against the U.S. dollar this week at the official foreign exchange...

Economic Reforms Strategize to Bridge Forex Gap as Oil Revenues Decline

Business Damilola Bayonle -
Amid dwindling oil revenues and persistent external reserve pressures, Nigeria's Central Bank (CBN) has rolled out a series of...

Nigeria’s Foreign Debt Servicing Hits $5.47 Billion

News Damilola Bayonle -
Nigeria has spent a staggering $5.47 billion on foreign debt servicing between January 2024 and February 2025, according to...