…The naira has depreciated dramatically since the Tinubu administration’s ill-conceived currency reforms. External debt denominated in dollars will naturally balloon when converted to naira at a weaker exchange rate. The securitisation of ?33 trillion in Ways and Means advances from the Central Bank of Nigeria, inherite…

…Market (NFEM) rate of N1,362.0866 per dollar and closed at N1,361.0000 per dollar. The currency, which traded at an NFEM rate of N1,367.7574 on Thursday, July 23, 2026, appreciated by at least N5.67 after trading activities on Friday. At the parallel market, the buying rate remained the same while the selling rate appr…

…challenges have also accelerated the shift toward naira-denominated financing, reducing currency risks for businesses seeking long-term investment.Funding gap persists for mid-sized businessesDespite the sector's growth, the report identified a major financing gap affecting businesses often described as the "missing mi…

…to settle at N39.8 trillion in June from N39.4 trillion the previous month. In contrast, currency circulating outside the banking system fell by 5.7 percent, dropping to N4.9 trillion in June from N5.2 trillion in May. This decline indicates an increased formalization of transactions as more liquidity flows back into t…

…domestic aviation market becomes increasingly competitive, rising fuel prices and currency pressures will continue to punish inefficient fleet deployment. Airlines that match capacity to demand, optimise operating costs and invest in appropriate aircraft will be better positioned to survive and grow. Overland Airways h…

…for PakistanIf Washington agrees, the arrangement would strengthen Pakistan's foreign currency reserves, ease pressure on the rupee, and reduce how heavily the country relies on multilateral lenders. According to

…that the relationship between the two regulators is complementary, stating that “concurrency means coexistence, not displacement.” Welcoming the decision, Adebayo said the ruling had provided much-needed clarity for operators in the telecommunications industry. “The court has done something important. It has confirmed…

…to note that, following the reforms and the depreciation of the naira, the foreign currency component of our public debt had to be revalued because Nigeria reports its debt in naira. That accounting adjustment alone added more than ₦40 trillion to the public debt figure.” The minister added that the securitisation of W…

…be calibrated locally, so experts have to be brought in from abroad and paid in foreign currency. “I raised this issue with the National Assembly as far back as 2022 because the formula is wrong. What is the rationale for allocating only 22 per cent to NAMA? It is the only agency providing aeronautical services, yet it…

…into romantic relationships, and later claimed to be sending expensive gifts, foreign currency and valuables to India," Singh said. The STF said the investigation gathered pace after a Daligan resident alleged that he was befriended on Facebook by a woman using the identity of 'Doris William' from England. Investigato…

…in terms of refined products. It is going to help improve the economy in Africa, our currency, and our image and standing in the world. So, I can say the US-Iran conflict is a blessing in disguise for Africa and Africans. What core values underpin petroleumprice.ng, and what key challenge was the platform created to ad…

…sets out a stricter compliance framework for how operators may access and handle foreign currency obtained from the official market.The CBN stated:From breaking news to viral moments. Follow Legit.ng on Instagram."BDCs are not permitted to retain in their possession any foreign exchange purchased from the NFEM that rem…

…Exchange Rate Today, July 17, 2026: Nigerian Naira continues appreciation against US currency

…and another man have been jailed in the United Kingdom for their roles in a cryptocurrency fraud that saw eight victims lose more than £4 million after the gang impersonated police officers. The Metropolitan Police disclosed this in a statement posted on its website on Thursday and sighted on Friday. It said the three…

…recent years, with the country consistently ranking among the world’s leaders in cryptocurrency adoption by transaction volume. The Central Bank had in 2021 directed banks to close accounts linked to cryptocurrency exchanges, a move that effectively pushed trading underground, before reversing course in 2023 and issuin…

…Private Debt Fund, records 103.43% subscription, deepening the pool of long-term local-currency capital available to mid-sized companiesFCMB Asset Management Limited (FCMBAM) and TLG Capital today announced the successful close of the FCMB-TLG Private Debt Fund Series II Offer. The Offer raised ₦20.69 billion, against…

…monetizing the presidency. Trump earned at least $1.2 billion from his family’s cryptocurrency activities last year, according to filings released in June. An API — short for Application Programming Interface — is a service that allows two different computer programs to interact with one another, potentially opening th…

…volatility and domestic exchange rate fluctuations, left the refinery highly exposed to currency risks.By shifting sales to USD, the refinery aligns its revenue streams with the currency required to secure its raw crude supplies.The transition is expected to heavily impact local marketers, who must now secure foreign e…

…Exchange Market (NFEM). Recent figures from the official market indicate that the local currency has continued to trade within a narrow range in recent days, as traders and investors closely monitor foreign exchange liquidity and the level of demand for the US dollar. Meanwhile, activity in the parallel market, commonl…

...Black market rate weakens to N1,425/$ Nigeria's currency, the naira, is coming under renewed pressure in the parallel foreign exchange (FX) market as seasonal demand for dollars for summer travel, overseas school fees and business trips gathers momentum, widening the gap with the official exchange rate. Data collate…

…around ₦36 per dollar, reflecting the continued premium paid by buyers sourcing foreign currency outside the official market. Exchange rates in both the official and parallel markets fluctuate daily based on foreign exchange supply, demand, market liquidity, and broader economic conditions. As a result, the rates offer…

…a violation of the provisions of the CBN Act and undermines confidence in the national currency. "The Bank will not hesitate to apply appropriate enforcement measures against any person or entity found to be in breach. The Bank remains committed to safeguarding the integrity of the Naira, ensuring confidence in all dul…

…lost N3.32. This represented a 0.24 per cent loss compared with Tuesday, when the local currency traded at N1,375.74. The Naira, which opened the trading week on Monday with a gain of N1.92 at the official market, recorded its first loss of N7.47 on Tuesday. The Naira had earlier experienced weeklong appreciation befor…

…bank stressed that there should be no confusion over the status of either version of the currency. "For the avoidance of doubt, the CBN hereby reiterates that both the commemorative ₦100 banknote and the standard ₦100 banknote remain legal tender in Nigeria and must be accepted for all transactions nationwide," the sta…

…2013, but costs escalated following the relocation of the site, engineering challenges, currency weakness, the COVID-19 pandemic and global inflation. The investment comes as Dangote is simultaneously pursuing another ambitious expansion programme in Nigeria, where the capacity of the Lagos refinery is being doubled fr…