FX

The Central Bank of Nigeria (CBN) has injected fresh $500 million to various sectors to further address the backlog of verified foreign exchange transactions. This comes barely a week after the apex bank paid approximately $2 billion to…

Guaranty Trust Holding Company Plc (GTCO) reaped a foreign exchange revaluation gain of N334.4 billion at the end of the third quarter and it helped to sustain the financial institution over the worst credit and financial asset losses the…

Despite foreign exchange volatility, Nigeria’s foreign reserves added $158 million in October to $33.396 billion from $33.238 billion reported by the Central Bank of Nigeria (CBN) in September 2023. The foreign reserves between January to…

The Central Bank of Nigeria's (CBN) foreign exchange unification enhanced six Tier-1 banks' profit before tax (PBT) to N1.61 trillion in the first half of (H1) 2023, an increase of 171.45 per cent from N591.47 billion in the corresponding…

The Nigerian naira could weaken to 850 per dollar by the end of the first half of 2024 due to balance-of-payment pressures and declining foreign-exchange reserves, South African lender Absa Group said in an investment note on Wednesday.…

Nigerian Naira value on Tuesday, dropped at the foreign Exchange (FX) Investment and export (I&E) window by 0.1 percent to NGN386.50/USD while it closed flat at the parallel market at NGN460.00/USD. Meanwhile, on Monday, the naira…

ISMAIL MUSA The first week of June saw Nigeria’s foreign Exchange (FX) reserves record first decline in a period of four week, declining by $17.09 million, to end the week at $36.58billion. During the week, the Central Bank of Nigeria…

A group of experts at BMI research, a Fitch Group company has said the country’s Gross Domestic Product (GDP) growth is positive but lacklustre over continued manipulation of foreign exchange (FX) currency and a risk of oil infrastructure…