12 results
- 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…
- 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…
- 17 Jul 2026
CBN to Monitor Every Dollar with FXBT, Forex Tracker
Central Bank of Nigeria (CBN) has launched a new digital platform to track every foreign exchange transaction involving Bureaux De Change (BDC) operators, marking a major step in its efforts to…
- 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…
- 20 Oct 2025
Black Market Naira Near ₦1,500 as Gap Widens
The Naira continued to trade with a significant disparity between Nigeria’s official and parallel foreign exchange markets on Sunday, October 19, raising concerns among importers, small businesses,…
- 9 Jun 2025
Confidence in Nigerian Economy Grows as Forex Inflows Reach $5.96Bn
Foreign exchange inflows from domestic sources have reached their highest level in six years, according to a report by the Central Bank of Nigeria (CBN). The increase reflects a growing confidence in…
- 21 Jul 2025
Naira Slides Again, Hits ₦1,532.34/$ Despite CBN’s Dollar Push
The naira closed the past week weaker than the previous one, as it depreciated by 0.14 per cent week-on-week to settle at 1,532.34/$ at the Nigerian Foreign Exchange Market. This weakening came…
- 6 May 2025
Naira Gains Strength, Hits N1,600/$ in Parallel Market
The naira appreciated to N1,600 per dollar in the parallel market at the close of trading hours on Monday, strengthening from N1,610 per dollar recorded over the weekend. Similarly, the naira saw a…
- 9 Jan 2026
CBN Projects Petrol to Hover around N905/Litre this Year
Central Bank of Nigeria (CBN) has projected that the pump price of petrol would hover around N950 per litre in the year 2026. The CBN stated this in its 2026 Macroeconomic Outlook for Nigeria. In its…
- 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…
- 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 May 2025
CBN Maintains 27.50% MPR as Inflation Moderates
Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained the MPR at 27.50 per cent, thus making it the second consecutive time in 2025. The decision was announced by the CBN…