…last weekend. Likewise, the naira depreciated to N1,371 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 market rose slightly to N1,371 per dollar from N1,370 per dollar last weekend, indicating N1 depreciation for the…

…on Monday, appreciating by N1.92 against the United States dollar at the official foreign exchange market. Data published on the Central Bank of Nigeria's official website showed the currency closed at N1,368.26 per dollar on Monday. The latest performance represented a 0.14 per cent appreciation compared with Friday's…

…central bank may buy, sell, import, export, transfer, hold, and refine. Beyond gold and foreign exchange, the law permits the regulator to deal in gold coins, bullion, silver, platinum, and other precious metals under terms it determines. The legislation also authorises the central bank to provide training and capacity…

…across Africa still often means routing payments through correspondent banks, delays, foreign exchange (FX) costs, and fees that can reach double digits. Ryan Kirkley, co-founder and chief executive officer of Global Settlement Network (GSX), a US-based blockchain infrastructure company, believes those inefficiencies a…

…paper manufacturing firm, Charbel Kairouz, said manufacturers continue to grapple with foreign exchange constraints for importing essential raw materials, while unstable electricity supply further raises production costs. According to him, expanding the local availability of industrial raw materials would significantly…

…reforms, including the removal of the petrol subsidy and the liberalisation of the foreign exchange market, both of which contributed to sharp increases in inflation and the cost of living. The World Bank has consistently maintained that the reforms are necessary to restore macroeconomic stability and place public fina…

…cold-chain logistics and export infrastructure could reduce imports, conserve foreign exchange, create more than 500,000 jobs and position Nigeria as a leading exporter of fisheries products. Dangote stated this in Lagos while speaking at the recent Second Quarter 2026 Citizens' and Stakeholders' Engagement of the Fede…

…increase infrastructure development, and reduce capital flight. It will also reduce foreign exchange pressures because organisations will no longer need to spend as much on offshore hosting services. The policy will drive competition among data centre operators and encourage them to improve their infrastructure, securi…

…against the United States dollar on Thursday, July 2, 2026, across the official Nigerian Foreign Exchange Market (NFEM) and the parallel market, as the gap between both segments remained narrow. According to live foreign exchange data, the official NFEM exchange rate stood at approximately ₦1,374.18 per US dollar on Th…

…dollar on Tuesday. Similarly, the naira appreciated to N1,369 per dollar in the Nigerian Foreign Exchange Market, NFEM. 6. The Federal Government's reduction in vehicle import levies has officially taken effect, offering hope of lower vehicle prices while prompting auto dealers to seek clarity on the newly introduced G…

…dollar on Tuesday. Similarly, the naira appreciated to N1,369 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 market fell to N1,369 per dollar from N1,376 per dollar on Tuesday, indicating N7 appreciation for the nai…

…to play. While commercial banks are expected to finance large corporates, participate in foreign exchange markets and offer a broad range of banking services, MFBs are specialised lenders focused on mobilising deposits and extending credit to households and small businesses. The licence limits how fintechs can use cust…

…amid the apex bank's longstanding restrictions on BDC operators' access to the official foreign exchange market, reflecting concerns over compliance standards and previous abuses within the segment. Market analysts say the development further underscores the CBN's preference for a bank-led foreign exchange distribution…

…after four days of decline The Naira appreciated against the dollar at the official foreign exchange market on Monday to begin the week on a good note. The Central Bank of Nigeria’s data showed that the Naira strengthened on Monday to N1,369.11 against the dollar, compared to N1,370.46 traded on Friday last week. This…

…domestic gas processing projects, prioritise local LPG supply and facilitate access to foreign exchange for critical imports where necessary. "NMDPRA will deploy technology to track product movement, develop a tariff regulatory framework to promote fair pricing and leverage expanded private sector investments in LPG st…

Nigeria’s foreign exchange reforms have restored the effectiveness of monetary policy after years of distortions under a multiple exchange rate

…administration points to the removal of the fuel subsidy, the unification of the foreign exchange market, the Supreme Court ruling on LG autonomy, the new minimum wage, and a series of infrastructure projects as evidence of delivery. Critics note that fuel prices have risen by 463 per cent and food prices more than dou…

…costs and losing profits. Another major challenge is policy inconsistency. Changes in foreign exchange regulations, taxes, and import policies can happen suddenly, making long-term planning difficult. Entrepreneurs can handle difficult policies, but uncertainty makes it difficult to build sustainable businesses. Poor i…

…business environment marked by inflationary pressures, rising operating costs, and foreign exchange volatility. The audited results show that total equity rose from N5.91 billion in 2024 to N11.84 billion in 2025, while share capital increased by 46 per cent to N365.53 million from N249.75 million. The number of issued…

"Organisations hosting data locally would pay in local currency rather than foreign exchange," he said "This would help reduce exposure to exchange rate pressures and lower long-term operating costs," he added. Beyond the financial argument, Adebayo framed local hosting as a matter of national data sovereignty, which h…

The naira ended the week weaker across foreign exchange (FX) market segments amid slowing market liquidity, despite Nigeria’s external reserves

…combating inflation and attracting foreign portfolio investment needed to support foreign exchange liquidity. "A significant portion of capital inflows is coming through portfolio investments because of the attractive interest rate environment," Yusuf said. "Ordinarily, the peace deal should support a slight reduction…

…part of the company's global expansion. The licence allows the company to offer foreign exchange, money transfer, and payment services in Canada through a newly established subsidiary, while also providing regulatory approval to handle virtual currency and digital asset transactions. The approval gives the Nairobi-foun…

…The Naira recorded the highest depreciation against the dollar on Friday at the official foreign exchange market to end the week bearish. The Central Bank of Nigeria’s data showed that the Naira further declined on Friday to N1,370.46 against the dollar, down from N1,363.30 exchanged on Thursday. This means that the Ni…

…businesses was partly offset by a lower gain from Tencent share sales and unrealised foreign exchange losses linked to euro-denominated bonds. Prosus is not escaping Tencent’s shadow overnight. But for the first time, it can point to a portfolio where every major operating ecosystem is profitable.