Nigeria’s FX utilisation hits $18.34bn, highest quarterly level since 2011
Nigeria’s foreign exchange utilisation rose to $18.34 billion in the second quarter of 2026, its highest quarterly level since the third quarter…
Foreign Exchange
FX market turnover hits 2026 high of $5.06bn
Nigeria’s foreign exchange market posted its strongest weekly turnover so far in 2026, with total transactions in the FX Spot and Derivatives…
CBN launches revised foreign exchange manual effective June
The Central Bank of Nigeria on Friday launched the fourth edition of its Foreign Exchange Manual, with the revised framework scheduled to…
Nigeria records $237.51bn net FX inflow in six years
Nigeria recorded a net foreign exchange inflow of $237.51 billion between 2020 and 2025, according to data from the Central Bank of…
FX spending on foreign education drops to $38.17m in 2024
Nigerians between January and March 2024 spent $38.17 million on overseas schooling. This was revealed in the quarterly statistical bulletin of the…
Nigeria’s FX reserves hits three-month peak
Nigeria’s foreign exchange reserves have soared to their highest level since March 28, 2024, marking a significant financial milestone. This increase coincides…
Naira exposure to forces of demand, supply suicidal – Stockbrokers
The Chartered Institute of Stockbrokers has raised concerns about the impact on companies with a major foreign exchange component, which are posting…
Nigeria’s FX reserves hits $32.3bn, rises by $262m
Nigeria’s foreign exchange reserves have surged to $32.369 billion as of May 6, 2024, marking a significant rebound from a recent one-month…
NGX foreign inflow hit N93.37bn in Q1
Foreign portfolio inflows into Nigeria’s Stock Market surged to N93.37 billion in the first quarter of 2024, reflecting a remarkable 415% increase…
FX spot market hit $12.61bn turnover in March – Report
The March turnover in the spot foreign exchange market amounted to $12.61 billion (N19.29 trillion), reflecting a notable month-on-month increase of 47.66%…
FX crisis: Kano industries switch to recyclers for raw materials
In Kano, the business centre of northern Nigeria, thousands of people make a living by feeding their little and medium-sized industries with…
FX crisis drives business cost to highest in 10 years – Report
Melvin Onwubuke Nigeria businesses are faced with the highest increase in input cost in a decade, as a result of the weakness…