…decline in inflation from its peak. He also said foreign reserves had been rebuilt, the foreign exchange market had stabilised and non-oil export revenue exceeded $6 billion in 2025. “These are not idle claims. International observers, journalists, NGOs and multilateral institutions can see the change,” Tinubu said. He…

…naira strengthened against the US dollar across Nigeria’s official and parallel foreign exchange markets on Tuesday, supported by improved dollar liquidity and a sharp rise in interbank FX turnover.The local currency also recorded gains against the British pound and euro, while the gap between the official and street-m…

…to undertake various reforms to effectively tackle them. He stated:”By 2023, Nigeria’s foreign exchange market was deeply fragmented with multiple windows operating alongside a massive parallel market, which made it incredibly difficult for businesses to know which rate would apply to them or when foreign exchange woul…

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…

…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…

…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…

…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…

…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 change in outlook to positive from stable…

…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…

…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…

…whose purchasing power remains under pressure.However, relative stability in the foreign exchange market has helped reduce exceptional foreign exchange losses on companies’ books.Deleveraging through capital raising has also helped some companies strengthen or repair their balance sheets, reducing financial pressure an…

…report.The decline came as the naira maintained relative stability in the official foreign exchange market, while stronger net foreign exchange inflows helped ease pressure on the local currency.The naira appreciates amid a fall in dollar demand across markets. ImagesThe CBN data showed that visible imports accounted f…

​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…

…indicators to sustained monetary policy tightening, increased transparency in the foreign exchange market, and growing investor confidence. She said the foreign reserves had exceeded the CBN’s annual target, driven by sustained inflows and renewed participation by investors across different asset classes. According to…

…said on Wednesday that the removal of petrol subsidy and the unification of the foreign exchange market generated N15.8tn in additional resources for the Federation between June 2023 and December 2025, with states and local governments receiving the larger share of the amount. The government, however, acknowledged that…

…interventions, including petroleum sector reforms that ended fuel scarcity, greater foreign exchange market stability, increased foreign reserves, local government autonomy, police reforms, the Nigerian Education Loan Fund (NELFUND), tax reforms, and extensive road infrastructure projects across the country and the Fed…

…to a five-month high on Monday, August 17, 2026, as increased activity in the foreign exchange market coincided with the Central Bank of Nigeria’s latest policy adjustment affecting banks’ access to its Standing Lending Facility (SLF).The local currency appreciated by N8.07 against the US dollar, with the dollar quoted…

…data shared on the CBN’s official platform shows that the naira traded at the Nigerian Foreign Exchange Market (NFEM) rate of N1,349.5372 per dollar and closed at N1,350 per dollar. The currency, which traded at an NFEM rate of N1,357.6088 on Friday, August 17, 2026, appreciated by at least N8.07 after trading activiti…

Total turnover in the foreign exchange market reported by FMDQ Securities Exchange experienced a sharp decline for the week ended Friday, 14 August 2026, falling 44.90 per cent to $2,054.89m compared to $3,729.44m recorded in the week ended 7 August 2026. This contraction represents a week-on-week loss of $1,674.55m ac…

…level recorded in 17 years — as the naira held steady across both official and parallel foreign exchange markets.Figures from the Central Bank of Nigeria (CBN) showed that the naira appreciated by N8.08 against the dollar over the course of the week, closing at N1,357.61 per dollar at the Nigerian Foreign Exchange Mark…

…believes that financing manufacturing and agribusiness can help ease pressure on the foreign exchange market by reducing import dependence. The report stated, “By financing manufacturing, agribusiness, food processing and pharma, BOI’s 2026 portfolio will expand export-earning industries and import-substitution industr…