Business

Sigma pulls out of $10bn bid to acquire

  • 16th June 2026

EU trade deficit with China hits record €1b

  • 16th June 2026

Dangote, AFC sign $600m deal to boost fertiliser

  • 16th June 2026

Nigeria lost N1.75tn in crude export revenue in

  • 16th June 2026

Contact Info

Some Populer Post

TCN raises alarm over power transmission vandalism in Niger

Electricity

Digital postcode system will transform Nigerian commerce — Bosun

E-commerce

NIPOST targets unique digital postcode for every building nationwide

Housing

Sigma pulls out of $10bn bid to acquire UK

Business

Tag: FOREX

featured

FG secures $2.25bn Afrexim bank loan to tackle FX shortage

  The Federal Government on Friday obtained a foreign exchange support package worth $2.25 billion from the African Import-Export Bank. Confirming this development to Arise TV, Finance Minister Wale Edun disclosed that this sum represents the initial installment of a larger $3.3 billion facility from the bank. Emphasizing the acute shortage of foreign exchange affecting […]

Dangote refinery secures licence to refine crude oil
featured

Dangote deny illegal FX dealings, money laundering allegations

    Dangote Industries Limited’s management has denied allegations of involvement in illicit foreign exchange transactions and cautioned against spreading such accusations, which they consider as acts of economic sabotage against the company. This statement comes in response to reports in certain media outlets (excluding The PUNCH) that implied the company was under investigation by […]

CBN clears forex backlogs – Report
featured

CBN clears forex backlogs – Report

            Reports have indicated that the central bank has “cleared” forex backlogs of banks and airlines. According to Nairametrics, sources indicated that airlines are also seeing their backlogs being cleared. “Yesterday, the apex bank began clearing the backlog of outstanding Retail SMIS obligations. The total amount cleared is yet to […]

How Nigerians spent $340.84m forex on education in six months - CBN
News

How Nigerians spent $340.84m forex on education in six months – CBN

Nigerians seeking admission to institutions abroad spent $340.84 million to fund their applications between January and June 2023. The Punch reported that the amount spent on educational services under sectoral utilization for transactions eligible for foreign exchange is based on statistics from the Central Bank of Nigeria. According to the CBN, a total of $40.54m was spent […]

Domestic airlines seek FG's permission to import jet fuel, forex
Oil and Gas

Domestic airlines seek FG’s permission to import jet fuel, forex

Domestic airlines under the auspices of Airline Operators of Nigeria on Monday, urged that the Federal Government grant AON the necessary permit for the importation and distribution of aviation fuel, colloquially known as JetA1. According to The Punch, AON also requested that the government set up a special support line so that local airlines may obtain […]

Forex turnover records N22tn in seven months on FMDQ
featured News

Forex turnover records N22tn in seven months on FMDQ

    The foreign exchange turnover on the FMDQ reached a total of N22.98tn ($44bn) over the period spanning from January to July 2023. The information was disclosed in the August issue of the FMDQ Spotlight, a monthly newsletter produced by the exchange. After the Central Bank of Nigeria harmonised the foreign currency rates in […]

Banks dollar sale drops as naira falls to N1,479
Banking

Firms consider hedging as forex crisis affects performance

Many of Nigeria’s major corporations have suffered enormous losses as a result of the Central Bank of Nigeria’s devaluation of the naira. and financial experts have suggested using hedging as a tactic to prevent more losses. The Punch reported that following the release of the company’s financial statement for the first half of the year, […]

CBN to rename forex market amidst economic shifts
Banking

CBN to rename forex market amidst economic shifts

In a move to reframe the financial landscape, the acting Governor of the Central Bank of Nigeria, Folashodun Shonubi, has unveiled plans to bestow a new identity upon the official foreign exchange market. Formerly known as the Investors and Exporters (I&E) window, it will now bear the name of the Nigerian Foreign Exchange Market (NFEM), […]

Banks dollar sale drops as naira falls to N1,479
Economy

Confusion as official FX rate, black market widens

Nigeria’s official currency rate, which has been edging closer to N100/$ as of last Friday, is now significantly different from those on the black market. The BDC and P2P pricing remained unchanged at N870/$ while the I & E FX window closed at N777.82/$. The disparity between the official and black market exchange rates for […]

How forex scarcity affects fresh petrol imports - Report
featured

How forex scarcity affects fresh petrol imports – Report

Oil marketers who have been licenced to import fuel are currently experiencing issues getting cash and thus, the prospect of new petrol importation into the country may have been crushed. According to The Punch, sources reported that three of the enraged downstream enterprises were yet to source foreign exchange to purchase products. Even though six downstream companies […]

Ban on styrofoam, satchet alcohol to worsen employment - NECA
Business featured

NECA urges FG to increase forex inflow

The Nigeria Employers Consultative Association has urged the Federal Government should take a multifaceted approach, including dealing with oil theft, to increase foreign exchange inflows and strengthen the Naira. According to Vanguard, in a press conference announcing the upcoming 2nd edition of the Employers’ Summit in Lagos yesterday, the Director General of NECA, Mr. Wale-Smatt Oyerinde, suggested […]

Banks dollar sale drops as naira falls to N1,479
featured

Stock market jumps by 5.5% as forex reforms begin 

The stock market increased by 5.5 percent last week as a result of the federal government’s launch of the Foreign Exchange market reform. Vanguard reported that on Wednesday, June 15, 2023, the government announced steps to liberalize the foreign exchange market. The initiatives included the abolition of all market segmentations and the elimination of numerous […]

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

Email Us: [email protected]

ambusinessng @2025. All Rights Reserved.

Facebook-f Pinterest-p Youtube Instagram Linkedin-in