…market trends.The naira traded in opposite directions at Nigeria’s official and parallel foreign exchange markets on Thursday, October 22, 2026, gaining slightly against the US dollar at the official window while losing ground on the black market.In the parallel market, the Nigerian currency depreciated by N2 to close…
The naira depreciated against the dollar on the official foreign exchange market on Thursday.Data from the Central Bank of Nigeria, CBN, showed that the naira weakened further to N1,344.40 per dollar on Thursday, compared with N1,334.72 recorded on Wednesday.This means the naira depreciated by N9.68 against the dollar…
…London, where he defended the removal of the petrol subsidy and the unification of the foreign exchange market, while admitting that food prices and the cost of living remained major challenges. “Macroeconomic stability means little to a mother who still cannot afford food. And to be candid, food inflation remains too…
…chain disruptions. Following a period of aggressive policy interventions, including foreign exchange market adjustments and structural economic reforms aimed at stimulating non-oil production, the focus has shifted toward restoring price stability and stabilising the local currency. The latest October 2026 World Econom…
…that had attracted official attention was an article he wrote about the second-tier foreign exchange market, a policy introduced by the Central Bank of Nigeria to determine the naira’s exchange rate and allocate foreign exchange according to market forces. In the article, Giwa warned of the consequences of the policy f…
The naira depreciated against the United States dollar at the official foreign exchange market on Wednesday.Data from the Central Bank of Nigeria, CBN, showed that the naira weakened to N1,334.72 per dollar on Wednesday, down from N1,333.65 recorded on Tuesday.This means that the naira lost N1.07 against the dollar on…
…trends.The naira marginally appreciated against the United States dollar at the official foreign exchange market on Tuesday, October 20, 2026, as trading turnover increased.Data from the Nigerian Foreign Exchange Market (NFEM) showed that the local currency gained 11 kobo to close at N1,333.65/$1, compared with N1,333.…
The naira appreciated slightly against the US dollar at the official foreign exchange market on Tuesday, recovering marginally after starting the week on a negative note.Data from the Central Bank of Nigeria, CBN showed that the naira strengthened marginally to N1,333.65 per dollar on Tuesday, compared with N1,333.72 r…
…naira continued its depreciation trend against the United States dollar at the official foreign exchange market on Monday.Data from the Central Bank of Nigeria, CBN, showed that the naira weakened to ₦1,333.72 per dollar on Monday, from ₦1,332.26 recorded on Friday, October 16, 2026.This means that the naira depreciate…
…has recorded a second consecutive day of depreciation against the dollar at the official foreign exchange market. Data from the Central Bank of Nigeria, CBN, showed that the naira weakened to N1,332.97 per dollar on Tuesday from N1,332.10 on Monday. This means the naira lost N0.87 against the dollar on a day-to-day bas…
…market trends.The naira weakened against the US dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Monday, October 12, as the official exchange rate moved to N1,332.09/$1 from N1,331.19/$1 recorded on Friday.Data showed that the local currency lost 90 kobo, representing a 0.07% depreciation against th…
…products paid for in foreign currency could put additional pressure on the country’s foreign exchange market. “Gas exports generate foreign exchange and investment, so the answer is not to discourage exports. The objective should be to increase production sufficiently to meet both export and domestic requirements,” he…
…by about 4% in the first half of 2026, trading around N1,380/$ in the official foreign exchange market before strengthening to approximately N1,330/$ in August.The group expects the currency to average N1,385/$ for the full year, with quarterly projections pointing to further stability.The report stated:“Staff project…
…that the policy had become fiscally unsustainable. The removal, alongside changes to the foreign exchange market, has contributed to higher living costs, although the government has maintained that the reforms were necessary to avert a deeper economic crisis. Nigeria remains a major crude oil producer and is home to th…
…naira weakened against the United States dollar, pound sterling and euro in the official foreign exchange market on Thursday, October 8, 2026, despite a sharp increase in trading activity.Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the dollar traded at N1,332.10, compared with N1,331.7…
…The Nigerian naira is trading at ₦1,331.77 per US dollar at the official Nigerian Foreign Exchange Market (NFEM) rate, based on the latest completed trading session, while the dollar is quoted at ₦1,370 to buy and ₦1,375 to sell in the parallel market on Thursday, October 8, 2026. Official dollar to naira rate Data fro…
The naira recorded a marginal gain against the US dollar in the official foreign exchange market on TuesdayNAFEM forex turnover surged from $72 million to over $313 million in a single trading sessionNigeria's gross external reserves climbed to nearly $55 billion, driven by stronger oil output and foreign investmentsPA…
…an extended period of tight policy aimed at containing inflation and stabilising the foreign exchange market. Sidi-Ali said the CBN, working with fiscal authorities, had implemented reforms aimed at strengthening macroeconomic stability, restoring investor confidence and supporting sustainable growth. According to her,…
…the most significant measures were the removal of the petrol subsidy, reforms to the foreign exchange market and changes to electricity tariffs. The Federal Government has repeatedly defended the reforms as necessary to address distortions that had weighed on public finances, discouraged investment and placed pressure…
…increased focus on diaspora funds comes amid reforms designed to make Nigeria’s foreign exchange market more transparent and predictable.Abdullahi said the reforms began in June 2023, when the CBN consolidated existing FX windows and moved towards a willing-buyer, willing-seller framework.The bank also removed restrict…
…relatively stable against the United States dollar across both official and parallel foreign exchange markets on Monday, October 5, 2026. At the Nigerian Foreign Exchange Market (NFEM), the dollar was quoted at approximately ₦1,327.08, reflecting a steady baseline supported by improved market liquidity and higher turno…
…started seeing the positive results of the reforms.” Rabiu cited developments in the foreign exchange market as evidence of progress. “If you look at the foreign exchange situation today, I think there are probably more dollars coming into Nigeria than even naira that we have now. “The rate is very stable. In fact, the…
The naira recorded a depreciation against the dollar at the official foreign exchange market as trading resumed after the Independence Day holiday. Central Bank of Nigeria data showed that the naira dropped to N1,330.10 against the dollar on Friday from N1,329.16 recorded on Wednesday, before the October 1 holiday in…
…cent, declining oil theft, lower inflation, improved foreign reserves and a more stable foreign exchange market. He also said Nigeria recorded its highest-ever non-oil export revenue in 2025, exceeding $6 billion. The President declared that the administration had moved from what he described as the “age of reform” to…
…fall in inflation from its peak, rebuilt foreign reserves and greater stability in the foreign exchange market. Tinubu said Nigeria recorded its highest revenue from non-oil exports in 2025, exceeding $6 billion. “This is real money being made by real Nigerian businesses,” he said. The President said international obse…