30 results
- 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…
- 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…
- 20 Sept 2021
Naira Slumps by 209 Per Cent in 6 Years
Despite the over $130bn deployed by the Central Bank of Nigeria (CBN) to defend the naira and a myriad of policies churned out to shore up its value over the past six years, the Nigerian currency has…
- 18 Apr 2022
NGX Launches West Africa’s First Exchange-traded Derivatives Market
Nigerian Exchange Limited has launched West Africa’s first Exchange Traded Derivatives Market with Equity Index Futures Contracts. It said in a statement over the weekend that this was consistent…
- 16 Jul 2026
CBN Introduces Digital Tracker to Monitor BDC Forex Transactions
The Central Bank of Nigeria (CBN) has launched a new system to monitor how Bureau De Change (BDC) operators buy foreign exchange in the country. Under the new arrangement, all licensed BDCs must…
- 10 Dec 2021
The Nigerian Capital Market Witnessed the Emergence of Its First Central Counterparty
The Nigerian Capital Market on Thursday, December 9, 2021, witnessed a monumental milestone as NG Clearing limited, the first Central Counterparty in West Africa, formally launched her operations.…
- 15 Mar 2020
CBN Rules out Naira Devaluation for Now
Central Bank of Nigeria (CBN) has expressed dismay at speculative activities at the foreign exchange market from impressions that the apex market would devalue the Naira, thereby triggering panic in…
- 2 Mar 2025
Report Reveals Foreign Investors Withdrew N45.8bn from NGX in January 2025
Foreign investors withdrew N45.85bn from the Nigerian stock market in January 2025, an outflow that significantly overshadowed the N25.66bn recorded as foreign inflows within the same period. The…
- 29 Dec 2023
Naira Crashes to All-time Low to N1,043.09/$ at Official Market
Naira on Wednesday hit a record low of N1,043.09 per dollar, following strong demand for the greenback amid dollar shortage at the official foreign exchange (FX) market. After trading on Wednesday,…
- 18 Jul 2014
AfDB Issues Inaugural Local Currency Bond in the Nigerian Capital Market
After receiving the Securities and Exchange Commission (SEC) of Nigeria’s approval to establish a NGN 160 billion Medium Term Note (MTN) Programme and “No Objection” from the SEC to start the book…
- 19 Nov 2014
NSE, LSEG Sign Capital Market Agreement
Nigerian Stock Exchange (NSE) and London Stock Exchange Group (LSEG) signed a capital markets agreement at the UKTI and the Emerging Capital event held at the Nigerian Stock Exchange (NSE) The…
- 31 May 2017
FER, Man-PMI Data, Others Will Keep Nigerian Market This Week- FXTM
FXTM Vice President of Market Research, Jameel Ahmad writes on how busy the Nigerian market will be this week. It is going to be a busy week for the Nigerian economy with a mixture of different…
- 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…
- 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…
- 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…
- 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…
- 8 Apr 2021
FG Clamps Down Fintechs Selling Foreign Stocks to Nigerians
The federal government has declared the activities of Fintech companies such as Bamboo and Trove, which give Nigerians real-time access to invest in or trade over 3,500 stocks listed on the American…
- 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…
- 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.…
- 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…
- 15 May 2019
MTN Nigeria Lists on Nigerian Stock Exchange Today
The long awaited listing of MTN Nigeria on the Nigerian Stock Exchange will hold today. This is sequel to the telecom giant receiving approval to list on the Premium Board of The Nigerian Stock…
- 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. …
- 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…
- 18 Oct 2022
NGX, US Consulate Collaborate to Boost Bilateral Investments, Stock Market Trade
Nigerian Exchange Limited (NGX) and the United States Consulate have announced a decision to collaborate on boosting investments and further enhance foreign investors stock market trade between…
- 29 May 2024
Foreign Inflow to NGX Dropped in April – Report
The value of foreign inflow on the Nigerian Exchange Limited dropped by 19.14 per cent month-on-month to N42.58bn in April from N52.66bn in March. This was indicated in the Domestic & Foreign…
- 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…
- 10 Oct 2019
NSE, LuxSE Sign MoU to Expand the Green Bond Markets
The Nigerian Stock Exchange (NSE) and the Luxembourg Stock Exchange (LuxSE) have signed a Memorandum of Understanding (MoU) to cooperate in promoting cross-listing and trading of green bonds in…
- 5 Jun 2026
FG Targets Alleged N3tn Capital Flight, Opens Airtime Credit Market to Nigerian Fintechs
The Federal Government has backed moves to deregulate Nigeria’s airtime credit and data advance market, a step aimed at increasing indigenous participation, promoting competition and reducing capital…
- 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…
- 9 Jan 2014
Forex Time Demo Competition Reveals Market Ingenuity
Foreign exchange-Forex (trade) is the only market that, currency, is truly open 24 hours with decent liquidity throughout the day, with almost $5 trillion traded around the world. It shows the level…