Market

On Monday, February 5, 2024, the Naira saw gains against the dollar both at the official and black markets. This coincides with the Central Bank of Nigeria's (CBN) announcement of...

The naira remains under pressure against the dollar, hovering near its all-time low, despite improved liquidity. Market fundamentals reveal that despite a $2.2 billion facility from the African Import Export...

The Naira demonstrated resilience against the dollar on February 3, 2024, closing at N1,435.53/$1 at the official market, marking a 1.84% gain over the tumultuous week. This modest uptick translates...

The Naira showed resilience, gaining ground and trading at 1,400 Naira per dollar on the black market despite low compliance among Bureau de Change operators in Abuja. The shutdown was...

At the official market, the Naira experienced a slight recovery against the dollar on January 31, 2024, bouncing back from a record low of N1,482.57 per dollar the previous day....

The Naira experienced a record low on Monday, falling to N1,348.63 per dollar in the official market, also known as NAFEM (Nigeria Autonomous Foreign Exchange Market). This significant depreciation, representing...

On Saturday, January 27, 2024, the Naira experienced an upward shift against the dollar at the official market but maintained stability in the black market. The domestic currency saw a...

The Nigerian Naira faced a further decline against the US Dollar on January 25, 2024, in both the official and parallel markets. In the official market, the Naira depreciated by...

From January to October 2023, Nigeria utilized 50% of its dollar outflows, totalling $3.07 billion, for servicing foreign debts, according to data from the Central Bank of Nigeria (CBN). This...

In addressing Nigeria's forex crisis, a recent report from the Nigerian British Chamber of Commerce (NBCC) suggests that boosting crude oil production to meet OPEC's quota is pivotal for enhancing...