The Central Bank of Nigeria has announced a free foreign exchange deposit window for banks in the country with instructions on how to implement it. The...
Remittance inflows have increased significantly, according to the Central Bank of Nigeria, reaching $553 million by July 2024. According to the statement, the sum represents a...
Global credit ratings firm, Fitch, has claimed that approximately 30% of Nigeria’s external reserves is comprised of foreign exchange (FX) bank swaps. This disclosure underscores...
The Economic and Financial Crimes Commission (EFCC), Nigeria’s anti-corruption body, could go after 300 forex criminals who trade on a peer-to-peer platform without following the rules....
Following recent gains in the country’s currency, the Naira, Nigeria’s Central Bank (CBN) has claimed that over $1.5bn came into the Nigerian economy over the past...
According to Fitch Ratings, a credit rating firm, the Central Bank of Nigeria’s proposed foreign currency gateway bank could negatively affect the liquidity of Nigerian banks....
In both the official and parallel markets for foreign exchange, the value of the Nigerian naira continued to fall on Friday. Friday’s closing price on the...
Fitch, a global credit ratings agency, has said that Nigeria’s Central Bank is still having trouble getting enough funds to clear its foreign exchange backlog. Last...
Nigeria’s anti-graft agency, the Economic and Financial Crimes Commission (EFCC), has carried out a raid on the headquarters of Dangote Industries Limited in Ikoyi, Lagos, amidst...
A fall in Nigeria’s foreign reserves by $1.6 billion to $32.97 billion has been observed since the country’s central bank’s recent efforts to unify foreign exchange...