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LIRS sets January 31st deadline for filing tax returns

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Tag: FX Market

Nigeria’s debt crisis deepens as FG borrows N10.85trn in four months
Economy featured

FX reforms drive naira to best performance since 2014

The naira recorded its strongest annual performance in more than a decade in 2025, appreciating by over seven per cent against the United States dollar, supported by broad foreign exchange reforms implemented by the Central Bank of Nigeria. Data released by the apex bank showed that the local currency strengthened by 7.4 per cent or […]

Finance

CBN increases dollar sales to stabilize FX market

The Central Bank of Nigeria has increased its dollar sales to stabilize the foreign exchange market amid declining inflows from key sources. In August 2025, the CBN sold $574 million, a 76 per cent increase from $326 million in July. Total foreign exchange inflows into Nigeria’s market fell by 12 per cent month-on-month to $3.4 […]

Naira and Dollar displayed
featured Finance

Naira records highest single-day gain at official FX market

The Naira on Thursday recorded the highest single-day gain against the dollar at the official foreign exchange market this week amid a continued rise in the country’s external reserves, hitting $41.24 billion. The Central Bank of Nigeria’s data showed that the Naira appreciated to N1,535.47 per dollar on Thursday, up from N1,537.07 on Wednesday. This […]

Naira closes week stronger at N1,534.72/$ 
Economy

Naira struggles in FX market despite CBN’s interventions

The mixed performance of the naira in the foreign exchange market reflects the ongoing challenges in stabilizing the currency despite the Central Bank of Nigeria’s interventions. The naira’s slight appreciation in the official market, from 1,603.78/$ to 1,599.94/$, shows some stability in the face of Central Bank interventions. However, the significant depreciation in the parallel […]

Nigeria’s debt crisis deepens as FG borrows N10.85trn in four months
News

FX reserves hits $40.8bn after eurobond auction

Nigeria’s foreign exchange reserves rose by $591.78 million following the government’s $2.2 billion Eurobond auction on December 2, 2024. According to the Central Bank of Nigeria, reserves increased from $40.29 billion on December 2 to $40.88 billion by January 3, 2025. This marks a month-on-month growth of 1.47%, highlighting the positive impact of the Eurobond […]

Naira strengthens slightly to N1,534.52/$ at official market
News

Naira rebound continues, now below N1,300/$1

The Nigerian naira has continued its rebound in the parallel market against the US dollar appreciating N1280/$1 according to some traders on Saturday. This shows a gain of N120 when compared to the previous day of N1,400 to a dollar. In some markets, traders said they still sold between N1300 and N1,320 to a dollar, […]

FX payments rose to $1.3bn in February - CBN
Business

FX market sees 10.94% turnover surge in nov 2023

Spot FX market turnover in November 2023 was $5.17 billion (N4.33 trillion), a 10.94% ($0.51 billion) increase from the turnover reported in October 2023 ($4.66 billion). The Times reported that this was revealed in the FMDQ Markets Monthly Report for October. According to the study, the Naira depreciated against the US Dollar in the FX […]

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