…and Exchange Commission (SEC) has proposed sweeping new rules to govern online foreign exchange and Contracts for Difference (CFD) trading in Nigeria, covering everything from how brokers are licensed to how they advertise their services and protect client money.The proposed framework, which is not yet in force, would…

GistReel The naira traded at ₦1,321.44 to the US dollar at the Nigerian Foreign Exchange Market (NFEM) on Tuesday, September 29, 2026, while the greenback changed hands for as much as ₦1,385 in the parallel market. In the parallel market, currency dealers were buying the dollar at around ₦1,375 and selling it at approx…

…faced significant depreciation and volatility in recent years following reforms in the foreign exchange market.New ranking shows Africa's 10 weakest currencies in 2026. Alliance/ContributorImagesData compiled from currency-conversion rates show that the São Tomé and Príncipe dobra, Sierra Leonean leone, Guinean franc a…

…The PUNCH that banks were benefiting from economic activity, particularly in stock and foreign exchange markets.He urged lenders to channel more funding towards manufacturers, agriculture and small businesses.Five Nigerian banks hit over N20 trillion in earnings. Alliance/Contributorshould actually support MSMEs and ag…

…its downstream market remains exposed to international oil prices, freight rates, foreign exchange movements and supply disruptions.A prolonged rise in global crude prices can therefore increase the cost of petrol, diesel and other petroleum products, even when domestic refining capacity expands.The impact goes beyond…

…exclusive, as the country has adopted a dual pathway which leverages exports for foreign exchange earnings while advancing domestic gas utilization to create job opportunities, deepen energy security, and economic wellbeing. Ogunleye said Nigeria has de-risked new LNG projects through a robust legal and regulatory fram…

…production has remained a major focus of government efforts to increase revenue, improve foreign exchange earnings and strengthen the country’s ability to meet its OPEC production quota.

…on Wednesday. Likewise, the naira appreciated to N1,322.5 per dollar in the Nigerian Foreign Exchange Market, NFEM. Data from the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira fell to N1,322.5 per dollar from N1,324.5 per dollar on Wednesday, indicating N2 appreciation for the nai…

…recorded gains against the British pound, the US dollar, and the euro in the official foreign exchange market on Wednesday, September 2, 2026, continuing a run of positive performance that analysts say could mark the currency's best annual showing in nearly a decade.At the Nigerian Foreign Exchange Market (NFEM), the n…

…macroeconomic and fiscal reform programme, including the removal of the fuel subsidy, foreign exchange reforms and changes to the tax system. According to him, the measures were strengthening the economy through improvements in external reserves, a more resilient external position, moderating inflation and stronger mon…

…for the financial year ended May 31, 2026, driven by stronger operating performance, foreign exchange gains and asset disposals. The company, in its audited results released to the Nigerian Exchange Limited (NGX), also proposed a N2.50 dividend per share, subject to shareholders’ approval at its Annual General Meeting…

…move is significant because excessive naira liquidity can increase pressure on the foreign exchange market and potentially undermine efforts to stabilise the currency.Banks still sitting on huge liquidityDespite the aggressive mop-up, liquidity in the banking system remained substantial.Opening balances held by banks a…

…the apex bank noted that directing more diaspora funds through formal channels enhances foreign exchange liquidity and market transparency, supports household consumption and investment, and strengthens the nation's broader external financing position. Reflecting on the milestone, Cardoso remarked, "July is an importan…

…per dollar, extending a week-long strengthening trend amid improved liquidityNigeria's foreign exchange market benefits from rising dollar supply, supporting Naira's stable performanceExternal reserves climb to $53.3 billion, marking a positive outlook for Nigeria's economic stabilityPAY ATTENTION: Mark Legit.ng as a p…

…agency, the improvements were driven by sizeable current account surpluses, increased foreign exchange reserves, improved foreign exchange market functioning and more effective monetary policy transmission. It added that gradually higher oil production was expected to support economic growth in 2026 and 2027. “The chan…

…among the administration’s achievements. He also commended efforts to stabilise the foreign exchange market, saying greater predictability would help businesses plan, while stronger foreign exchange reserves would boost investor confidence.On his stewardship, Adegbonmire said his interventions in Ondo Central had focus…

…country that exports crude oil, imports refined petroleum products, and then spends its foreign exchange subsidising those imports for domestic consumption."But a politician that has been in the economic field for a very long time telling us that the way forward for us as an oil-producing country is to continue to impo…

…that the administration of President Bola Tinubu has made progress in stabilising the foreign exchange rate by adhering to market principles. Speaking in an interview on News Central Television, Ezekwesili, however, stated that the improvement has not yet translated into better living conditions for average Nigerians.…

…Taiwo Oyedele, disclosed that the removal of petrol subsidy and the unification of the foreign exchange market mobilised N15.8tn in additional resources for the Federation during the period. Oyedele said, “Between June 2023 and December 2025, subsidy savings mobilised a sum of N15.8tn in resources for the Federation. M…

…in Nigeria’s federation revenue following the removal of petrol subsidy, reforms in the foreign exchange market and efforts to improve revenue mobilisation. It also exposes the limits of measuring Nigeria’s revenue growth in naira terms alone. While the removal of petrol subsidy, foreign exchange reforms and improved r…

…refining, crush private sector confidence, and plunge the country back into chronic foreign exchange haemorrhage. Nigerians must reject this sordid narrative of regression. “True leadership requires the courage to defend difficult, foundational reforms even when the political weather is rough, rather than pandering to…

…showed continued growth despite persistent inflationary pressure, high energy costs and foreign exchange volatility.Nigerian Breweries led Nigeria’s consumer goods companies by revenue Photo: BloombergImagesPAY ATTENTION: From breaking news to viral moments. Follow Legit.ng on Instagram!Below are the top 10 consumer go…

…Overhead: Power generation, logistics bottlenecks, high port terminal charges, and foreign Exchange Volatility, which affects imported SKD/CKD kits and raw materials” are elements pushing up the cost of new vehicles in Nigeria. “Sub-scale factory runs elevate unit costs compared to high-volume global plants. High inter…

…technology, energy, stocks, investment, and the economy for over a decade.Demand for foreign exchange by end-users in Nigeria dropped significantly in April 2026, with total sectoral FX utilisation falling by 35.23 per cent to $3.42 billion, according to the Central Bank of Nigeria’s monthly economic report.The decline…

​The naira has returned to appreciation against the United States dollar at the official foreign exchange market on Thursday. Central Bank of Nigeria data showed that the naira strengthened on Thursday to N1,347.63 against the dollar, from N1,350.41 exchanged on Wednesday. This means that the naira gained N2.78 against…