30 results
- 15 Jun 2026
Analysts Warn of Growing "Crowded Trade" in Foreign Exchange Markets
Foreign exchange markets are entering a phase where how traders are positioned may matter as much as the economic fundamentals driving those positions, according to a new market analysis from…
- 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…
- 7 Aug 2018
CBN Boosts Foreign Exchange Market with $210m
The Central Bank of Nigeria (CBN) has injected 210 million dollars into the inter-bank Foreign Exchange Market to meet customers’ requests in various segments of the market. Mr Isaac…
- 14 Aug 2018
CBN Boosts Foreign Exchange with $210m
The Central Bank of Nigeria has sustained its intervention in the inter-bank foreign exchange market by injecting 210 million dollars into the various segments of the market. Mr Isaac…
- 24 Feb 2016
IMF Urges Nigeria to Lift Foreign Exchange Curbs
The International Monetary Fund (IMF) has called on Nigeria to lift foreign exchange curbs and let the naira reflect "market forces" more closely, also urging more fiscal discipline and structural…
- 22 Jan 2018
CBN injects $210m to boost foreign exchange market
Central Bank of Nigeria (CBN) has injected 210 million dollars in a bid to boost the inter-bank foreign exchange market and to meet customers’ requests in various segments of the market. Mr…
- 20 Apr 2020
How Hosting Locally Reduces the Impact of Foreign Exchange Fluctuation
When organizations want to host their content, they look for a hosting platform that gives them efficient, high speed, and cost-effective service, so their content can be accessed quickly. But while…
- 24 Jul 2022
SEC Seeks Harmonized Exchange Rate to Attract Foreign Portfolio Investment
The Securities and Exchange Commission, SEC has advocated for a unified foreign exchange rate in order to attract Foreign Portfolio Investment, FPI into the country. The Commission said that the…
- 28 Jan 2017
CBN Defends its Foreign Exchange Policy, Cautions Critics
The Central Bank of Nigeria (CBN) has defended its foreign exchange policy and cautions unwarranted attack on its policies by a group of Nigerians, whose real interests, according the apex bank are…
- 29 Apr 2019
Nigeria Week Ahead: Foreign Exchange Reserves, Fed and BoE in Focus
By Lukman Otunuga, FXTM Research Analyst Nigeria will unveil updates on its latest foreign exchange reserve figures in the week ahead, amid renewed optimism over the progress of US-China trade talks.…
- 15 Oct 2018
Data Science Could Improve Nigeria’s Foreign Exchange - Adekanmbi
Olubayo Adekanmbi, the Convener of Data Science Nigeria (DSN) has said that data science could be a major Foreign exchange earner for the country if it’s well harnessed. He said that data…
- 29 Oct 2019
Nigeria on Bumpy Road to Recovery; Foreign Exchange Reserves in Focus
By Lukman Otunuga, Senior Research Analyst at FXTM, The Nigerian economy still remains on a rocky road to recovery in the face of depressed oil prices, US-China trade uncertainty and fears over…
- 3 Oct 2024
CBN Introduces EFEMS to Enhance Transparency in Forex Market
Central Bank of Nigeria (CBN) has introduced an Electronic Foreign Exchange Matching System (EFEMS) for Foreign Exchange (FX) transactions within the Nigerian Foreign Exchange Market (NFEM). Yemi…
- 30 Aug 2018
Nigeria Foreign Exchange Reserves in focus, Gold slips
By Lukman Otunuga, Research Analyst at FXTM, The Nigerian Naira maintained stability against the Dollar on Thursday despite growing expectations over higher US interest rates this year. …
- 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…
- 16 Jul 2026
CBN Introduces Digital Tracker to Monitor BDC Forex Transactions
The Central Bank of Nigeria (CBN) has launched a new system to monitor how Bureau De Change (BDC) operators buy foreign exchange in the country. Under the new arrangement, all licensed BDCs must…
- 20 Sept 2021
Naira Slumps by 209 Per Cent in 6 Years
Despite the over $130bn deployed by the Central Bank of Nigeria (CBN) to defend the naira and a myriad of policies churned out to shore up its value over the past six years, the Nigerian currency has…
- 12 Oct 2023
CBN Lifts Forex Restrictions on Importation of 43 Items
Central Bank of Nigeria (CBN) has finally lifted the foreign exchange restrictions it placed on the importation of 43 items eight years ago. In a statement released on Thursday, October 12, the…
- 26 May 2021
NAFEX Signals Official Devaluation of Naira to N410/$
Central Bank of Nigeria (CBN) has devalued the naira to N410.25 to dollar- a move officially confirmed by the adoption of the Nigerian Autonomous Foreign Exchange Rate (NAFEX), also known as the…
- 7 Jun 2026
CBN Introduces N100m Fine for Banks Over Forex Documentation Violations
Central Bank of Nigeria (CBN) has introduced a N100 million penalty for banks and other authorised dealers that process foreign exchange transactions without adequate supporting documentation, as…
- 18 Aug 2021
Court Grants CBN Request to Freeze 9 Firms Accounts over Illegal Forex Deals
Federal High Court, Abuja has granted the request of the Central Bank of Nigeria (CBN) to freeze 86 accounts of some companies and individuals allegedly involved in fraudulent foreign exchange…
- 15 Mar 2020
CBN Rules out Naira Devaluation for Now
Central Bank of Nigeria (CBN) has expressed dismay at speculative activities at the foreign exchange market from impressions that the apex market would devalue the Naira, thereby triggering panic in…
- 22 Nov 2023
Telcos, Others Accumulate over N900Bn Forex Loses to Naira Devaluation- Blueprint
Foreign-owned subsidiaries, like Airtel Africa, MTN Nigeria, Nestle, Guinness and many others trading in the Nigerian Exchange have accrued over N900 billion in foreign exchange losses as of the…
- 2 Aug 2021
CBN Dismisses Rumours of Plans to Convert Forex in Customer’s Domiciliary Accounts into Naira
Central Bank of Nigeria (CBN) has allayed fears over domiciliary account deposits as it dismissed rumours of plans to convert foreign exchange in customer’s domiciliary accounts into Naira. Osita…
- 19 Mar 2021
CBN Pumps In $5.62Bn to Defend Naira in 3 Months
Central Bank of Nigeria (CBN) injected $5.62bn into the foreign exchange market in the fourth quarter of 2020 as part of efforts to ensure the stability of the naira. Mr. Godwin Emefiele, CBN…
- 22 Aug 2016
CBN Accuses Banks of Round Tripping, Mulls Punishment
Central Bank of Nigeria (CBN) yesterday accused banks of foreign exchange (forex) round tripping and vowed to mete out sanctions on erring institutions. Forex round-tripping or arbitrage refers to a…
- 13 Apr 2025
SEC Bans Unregistered Digital Asset Exchanges, Online Forex Platforms
Securities and Exchange Commission (SEC) has banned digital asset exchanges or online foreign exchange trading platforms without formal registration. It highlighted that the newly enacted Investments…
- 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…
- 19 Sept 2016
CBN Officials in Forex Scandal, Allegedly Launder Forex Through Phony Firms
A major scandal has hit the new foreign exchange policy of the Central Bank of Nigeria (CBN) as it is now riddled with sharp practices. The policy, which was introduced in March and…
- 12 Jan 2016
CBN Lifts Ban on Dollar Deposits, Withdrawals
Central Bank of Nigeria (CBN) has finally lifted the ban stopping commercial banks from accepting cash deposits of foreign exchange from customers, in order to stem the growing foreign exchange…