Tag: Nigeria forex market

CBN’s naira settlement policy set to transform how Nigerians receive diaspora funds

Business Damilola Bayonle -
Naira settlement policy reshapes Nigeria remittance landscape Nigeria’s diaspora inflows are entering a new phase as the Central Bank of...

CBN reforms pay off as parallel market premium in Nigeria’s forex market falls to under 2%

Business Damilola Bayonle -
Nigeria’s foreign exchange market reforms are beginning to show measurable outcomes, with the gap between the official and parallel...

Weekend forex update: Naira trades at ₦1,385/$ as Pound and Euro maintain strength against Nigerian currency

Business Damilola Bayonle -
Nigeria’s foreign exchange market closed the week with mixed signals as the naira continued to trade within a narrow...

Mid-Week Forex Update: Latest Naira Rates Against Dollar, Pound and Euro in Nigeria

Business Damilola Bayonle -
Nigeria’s currency market recorded modest fluctuations as the naira exchange rate mid-week forex update shows the local currency trading...

Naira slides again as currency loses ground against dollar in official and black markets

Business Damilola Bayonle -
Nigeria’s local currency extended its downward trend at the end of the trading week, recording fresh losses against the...

Naira falls to N1,420/$ as currency loses N25 in single-day black market slide

Business Damilola Bayonle -
Nigeria’s currency recorded fresh pressure in the informal foreign exchange market on Thursday after losing significant value against the...

CBN reforms drive FX inflows, strengthen naira despite global oil slump

Business Damilola Bayonle -
Despite global oil prices plunging below Nigeria’s fiscal benchmark, the Central Bank of Nigeria (CBN) has sustained the flow...

Naira opens week weaker, dips to N1,533 per US dollar

Business Damilola Bayonle -
The naira opened the new trading week on a weaker note, exchanging at N1,533.67 per US dollar at the...

Naira Wavers as Forex Demand Surges

Business Damilola Bayonle -
Nigeria’s currency closed last week with mixed fortunes across different market segments, reflecting persistent volatility in the foreign exchange...

FX Contract Breaches: CBN May Sue Defaulters Post-Audit

Business Damilola Bayonle -
The Central Bank of Nigeria (CBN) has announced plans to initiate legal proceedings against entities and individuals found culpable...