30 results
- 23 Jan 2025
CBN’s FX Code to Boost Transparency for Launch on January 28
The Central Bank of Nigeria (CBN) said it has approved the release of the Nigerian Foreign Exchange (FX) Code and will officially launch the same on January 28, 2025. The FX code serves as a…
- 9 Jun 2021
FMDQ Commends CBN for Restoring Transparency in FX Market
Mr. Bola Onadele Koko, the Chief Executive Officer, FMDQ Group, has hailed the Central Bank of Nigeria (CBN) for activating the on-system trading and reporting of foreign exchange (FX) transactions…
- 7 Aug 2025
CBN to Prosecute FX Deal Violators after Audit
Central Bank of Nigeria (CBN) has said that it plans to pursue civil, administrative, or criminal sanctions against parties found to have breached foreign exchange (FX) rules, following the…
- 5 Dec 2012
Thomson Reuters Delivers Significant Enhancements to FX Matching Platform
Thomson Reuters, the world's leading source of intelligent information for businesses and professionals has announced a number of significant enhancements to its FX Matching platform to bring…
- 17 Oct 2025
Nigeria’s FX Reserves Hit Five-Year High of $43.4bn — CBN
Central Bank of Nigeria (CBN) has announced that the country’s foreign exchange reserves have surged to a five-year high of $43.4 billion, despite recent efforts to clear FX backlogs and stabilise…
- 2 Dec 2024
SEC Flags Marino FX as Illegal Crypto Exchange
The Securities and Exchange Commission (SEC) has issued a public notice disowning Marino FX Limited, a company claiming to be a SEC-licensed cryptocurrency exchange. According to the regulatory body,…
- 12 Jun 2022
TP Global FX Equips Youths with Forex Trading Skills
TP Global FX has stated that it is ready to equip Nigerian youths with the right skill set and knowledge in forex trading to enable them gain financial freedom and help the economy grow. The firm…
- 28 Jan 2026
Naira Smashes Through ₦1,400 Barrier in Official FX Rally
Nigerian naira strengthened to a record high of about ₦1,400 to the US dollar at the official market during midweek trading, continuing an appreciation trend seen since the start of the week. FX Data…
- 27 Jul 2017
FXTM Continues to Lead the Charge of FX Education in Nigeria
Global, award-winning forex broker FXTM continues to lead the charge of FX education in Nigeria with an Ultimate Trading Formula roadshow in July. Presented by Andreas Thalassinos, FXTM head of…
- 10 Nov 2016
CBN Fines Standard Chartered Bank N2Bn for FX Infraction
Central Bank of Nigeria (CBN) has reportedly fined Standard Chartered Bank N2billion for foreign exchange infraction. The bank, according to Thisday newspaper, drew the apex bank’s anger for buying…
- 22 Dec 2024
CBN Permits BDC Operators to Buy FX from NAFEM During Festive Season
Central Bank of Nigeria (CBN) has announced that eligible Bureau de Change (BDC) operators will have temporary access to the Nigerian Autonomous Foreign Exchange Market (NAFEM) to purchase $25,000…
- 1 Jan 2024
Nigeria Borrows $1.7Bn to Boost FX Inflows – NBS
Nigeria got $1.71bn in foreign loans to boost foreign exchange inflow into the country in the first nine months of 2023. Total capital importation including Foreign Direct Investment, Foreign…
- 22 Nov 2023
NGX Urges FG, CBN to Give Priority to Listed Companies in Procurement, FX Access
The Nigerian Exchange Limited (NGX) has called on the federal government and the Central Bank of Nigeria (CBN) to give priority to listed corporates in their procurement processes and access to…
- 6 Sept 2024
CBN Sells FX to BDCs @N1 580/$ to Boost Liquidity
Central Bank of Nigeria (CBN) has approved the sale of dollars to bureau de change (BDC) operators at a rate of N1,580 per dollar. In a circular signed by W.J Kanya, the acting director of the trade…
- 4 Dec 2023
NEXIM Bank Assures Foreign Investors 100% Access to FX for Repatriation
The Nigerian Export Import (NEXIM) Bank has assured foreign investors of 100 per cent access to their foreign exchange proceeds for reparation. Stella Okotete, the bank’s Executive Director, Business…
- 19 May 2024
ABCON, SEC Partner on Digital Currency P2P FX Sector Harmonization
The Association of Bureau De Change Operators of Nigeria (ABCON) has called for the Securities and Exchange Commission (SEC) guidance and collaboration in harmonising the peer-to-peer forex sector in…
- 24 Nov 2023
CBN to Introduce New FX Laws and Guidelines to Tackle Naira Depreciation — Cardoso
Mr Yemi Cardoso, Governor of Central Bank of Nigeria CBN, has stated that the apex bank will soon introduce a new set of foreign exchange laws and guidelines to tackle Naira depreciation and achieve…
- 20 Aug 2021
CBN Bans Microfinance Banks from FX Transactions
Central Bank of Nigeria (CBN) has banned microfinance banks operating in the country from carrying out foreign exchange transactions. In a circular titled Cessation of Non-Permissible Activities by…
- 7 Jan 2024
CBN Disburses $61.6M to Foreign Airline Operators as Part of FX Backlog Clearance
The Central Bank of Nigeria (CBN) has announced the disbursement of $61.64 million to foreign airlines through various Deposit Money Banks (DMBs). This disbursement, as disclosed by Mrs. Hakama…
- 14 Jun 2019
CBN to Shut Bank Accounts of Firms Which Import FX Restricted Goods
Central Bank of Nigeria (CBN) has said it will close the bank accounts of firms caught smuggling into the country any goods for which access to foreign exchange has been restricted. The…
- 28 Apr 2025
CBN Urges Banks to Source FX for PAPSS Settlement Through NFEM
The Central Bank of Nigeria (CBN) has announced a comprehensive review of documentation requirements for transactions processed through the Pan-African Payment and Settlement System (PAPSS), aimed at…
- 16 Jul 2026
FX Reforms Deliver Big Win as Nigeria's Net Reserves Jump to $40bn
Nigeria's net foreign exchange reserves have risen significantly from about three billion dollars to 40 billion dollars, reflecting improved external liquidity and growing investor confidence…
- 30 Jan 2026
Airtel Africa Records $586m Rise in Profit on FX Gains, Tariff Hike
Airtel Africa’s profit after tax grew to $586 million in the nine months ended December 31, 2025, up from $248 million in the corresponding period of 2024. According to the company’s nine-month…
- 1 Mar 2026
Iran-Israel-US Conflict and CBN’s FX Gains: A Stress Test for Nigeria’s Monetary Stability
Blaise Udunze At the 304th policy meeting held on Wednesday, the 25th February, the Central Bank of Nigeria’s (CBN) Monetary Policy Committee cut the rate by 50 basis points to 26.5 percent from 27…
- 20 Apr 2017
Nigeria Needs Reforms to Hedge against Future FX Crisis – World Bank
Nigeria needs to reform its finance to ensure it can hedge against any future currency crisis, the World Bank chief economist for Africa said on Wednesday. Albert Zeufack said currency adjustments…
- 25 Jan 2017
FXTM: Why Education is Essential in Nigerian Fx Space
Nigeria has entered its worst recession in over 29 years. According to the Nigeria’s National Bureau of Statistics’ (NBS) GDP report, the economy contracted by 2.06 percent in the 2nd quarter of…
- 6 Mar 2016
FG Rejects IMF Calls to Lift FX Curbs
President Muhammadu Buhari has rejected calls by the International Monetary Fund (IMF) to lift the West African country's foreign exchange curbs and allow a more flexible rate for its currency. "No,"…
- 5 Jan 2022
FMDQ Report Reveals Total Foreign Exchange Trade Drops by 23.59% in November
FMDQ Exchange has disclosed that total foreign exchange (FX) market turnover dropped by 23.59 per cent in its month-on-month (MoM) performance to N4.28trillion or s. $10.30billion in November from…
- 16 Jul 2021
Foreign Exchange Inflows still Below Pre-COVID Levels
Tunde Abidoye According to the Central Bank of Nigeria’s latest Quarterly Statistical Bulletin for Quarter 4, 2020, total Foreign Exhange (FX) inflows into the Nigerian economy declined by -6.4% q/q…
- 17 Mar 2025
Central Bank Defends Naira with $360m in 5-Day
The exchange rate stabilised in the FX market as the Central Bank of Nigeria (CBN), defended the local currency with $360 million, stemming a negative tide from increased demand for the US dollar.…