Currencies

Naira Slips for Third Straight Session as Reserves Dip Below $50 Billion Mark

March 23, 2026

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Currencies

Nigeria Plans New FX Rules, Targeting 750 Naira Exchange Rate

Naira Appreciates Against Dollar, Hits N1,470/$1 in Parallel Market

May 17, 2024

In a surprising turn of events, the naira appreciated significantly against the dollar in the parallel market on Friday, May...

Naira depreciates to N744/$ in the parallel market.

Concerns Rise as Dollar Hits N1,533.99 in Official Market

May 17, 2024

The Nigerian naira has hit a new low, trading at N1,533.99 to the dollar in the official market, stirring widespread...

Customs Raises FX for Duty Collection from N757/$ to N783/$

Nigerian Customs Duty Exchange Rate Increases to N1530/$ Amid Naira Depreciation

by Victoria Attah

May 17, 2024

The Nigerian Customs Service (NCS) has adjusted the exchange rate for import duty collections from N1492/$ to N1530/$. This change...

Naira depreciates to N755/$ in the parallel market.

Naira Recovers to 1,459.02/$ After Week-Long Decline

May 16, 2024

After experiencing a week of depreciation, the Nigerian naira made a significant recovery on Wednesday, trading at N1,459.02 per dollar...

Naira Continues Decline At N1540/$ Despite Weak U.S. Dollar Index

May 15, 2024

The Naira has experienced a further decline in the country’s unofficial foreign exchange market, falling to a new low of...

CBN to Release Full List of Licensed Bureau De Change Operators

Insufficient Forex Allocation Blamed for Naira Depreciation, Says BDC Official

May 15, 2024

A senior official from the Association of Bureau De Change Operators of Nigeria (ABCON) has pointed to insufficient dollar allocations...

EFCC Launches Task Force to Combat Naira Mutilation and Dollarization

EFCC Raids Currency Speculators as Naira Falls to 1,520 per Dollar

May 15, 2024

In a significant crackdown, operatives of the Economic and Financial Crimes Commission (EFCC) conducted extensive raids on Bureau De Change...

Naira Reaches Six-Week Low, Hits Intra-Day High at N1,515/$1 in Official Market

May 14, 2024

In a concerning turn of events, the exchange rate between the Nigerian naira and the US dollar surged to an...

NEC Affirms CBN $3 Billion Loan for Naira Stability

CBN to Shift N5.5 Trillion Development Finance Activities to Private Banks and DFIs

by Jide Omodele

May 14, 2024

The Central Bank of Nigeria (CBN) has announced plans for a significant restructuring in its operations, aiming to transfer approximately...

Naira Hits Seven-Week Low, Trading at N1480/$1 in the Black Market