SEC Proposes N3 Billion Minimum Capital for Forex Brokers, N5 Billion for Trading Platforms
The Securities and Exchange Commission has proposed a new regulatory framework for online forex trading and Contracts for Difference, setting ...
Tag: forex
Official FX Turnover Drops 48.7% to $2.71 Billion in One Week
Foreign exchange turnover at Nigeria’s official market fell sharply by 48.7 per cent week-on-week to $2.71 billion in the week ...
FX Market Liquidity Strengthens Significantly as Daily Turnover Nears $1 Billion
Nigeria’s foreign exchange market experienced a substantial boost in activity during the first half of 2026, with daily trading volumes ...
CBN Freeze of Assets of Six Individuals and Four BDCs Over Terrorism Financing Allegations
The Central Bank of Nigeria (CBN) has directed all commercial banks and financial institutions to immediately freeze the assets of ...
Naira Depreciates by N5.08 Week-on-Week as Dollar Liquidity Tightens
The Nigerian naira came under pressure across foreign exchange market segments last week, losing ground despite a steady rise in ...
CBN Releases New Foreign Exchange Manual, Grants Easier Access to Domiciliary Accounts
The Central Bank of Nigeria (CBN) has introduced major reforms to its foreign exchange regulations with the launch of the ...
CBN Maintains Restrictions on BDC Access to Official Forex Market Over Compliance Concerns
The Central Bank of Nigeria (CBN) has sustained its tight restrictions on Bureau De Change (BDC) operators’ access to the ...
Forex Traders Anticipate More BDC Licences as CBN Begins Approvals Under New Framework
Retail foreign exchange traders operating as Bureau De Change (BDC) providers have expressed optimism that the Central Bank of Nigeria ...
NNPC Ltd Posts N5.4 Trillion Profit After Tax in 2024, Driven by Forex Gains
The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced a profit after tax of N5.4 trillion for the 2024 ...
Nigeria’s FX Reserves Set to Hit $45 Billion on Eurobond Surge, Analysts Forecast
A blockbuster $2.3 billion Eurobond sale, oversubscribed more than fivefold, is poised to propel Nigeria’s foreign exchange reserves to $45 ...
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