24hrs News & Updates
Nigeria’s external reserves have climbed to $53.11 billion, reaching their highest level in more than 17 years and providing a significant boost to the country’s external financial position. The latest figure, recorded as of August 24, 2026, represents a continued upward trajectory in Nigeria’s reserves and brings the country within striking distance of the level…
The Nigerian naira closed at ₦1,362.09 to the US dollar in the official Nigerian Foreign Exchange Market (NFEM), according to the latest exchange-rate data attributed to the Central Bank of Nigeria (CBN). The rate reflects the most recent trading session available as of Friday, July 24, 2026, with the figure being reported as the official…
Read More “Naira Holds Steady at N1,362.09 to Dollar in Official FX Market” »
The Central Bank of Nigeria (CBN) has introduced a new set of operational guidelines for Bureau De Change (BDC) operators, unveiling a centralized electronic platform that will monitor foreign exchange purchases in real time as part of efforts to strengthen transparency and compliance in the retail foreign exchange market. The new framework, contained in a…
Read More “CBN Tightens BDC Forex Rules, Launches Digital Tracker to Monitor Dollar Purchases” »
Independent petroleum marketers and energy industry experts have strongly opposed the Dangote Petroleum Refinery’s decision to begin pricing petroleum products in United States dollars, warning that the policy could deepen foreign exchange pressures, increase fuel costs, and destabilise Nigeria’s downstream petroleum sector. The concerns follow the refinery’s introduction of a new pricing template that denominates…
Nigeria’s currency, the Nigerian naira, has appreciated to ₦1,348 against the United States dollar at the official foreign exchange market, marking one of its strongest positions in recent months. Data from the Nigerian Foreign Exchange Market (NFEM) shows that the local currency firmed up to this level, reflecting improved liquidity conditions and renewed investor confidence…
Read More “Naira Strengthens to ₦1,348/$ at Official FX Market Amid Liquidity Boost” »
The Nigerian naira has depreciated to approximately ₦1,415 per dollar at the parallel market, reflecting renewed pressure on the country’s foreign exchange environment amid persistent dollar scarcity and fluctuating liquidity conditions. Market data from key trading hubs, including Lagos and Abuja, show that the local currency weakened against the U.S. dollar during recent trading sessions,…
Read More “Naira Slides to N1,415/$ in Parallel Market as FX Liquidity Pressures Mount” »
The Naira yesterday appreciated to N1,518 per dollar in the parallel market from N1,520 for a dollar on Monday. However, Naira depreciated to N1,493.2 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the naira rose to N1,493.2 per dollar…
The naira yesterday depreciated to N1, 620 per dollar in the parallel market from N1,618 per dollar on Tuesday. But, the Naira appreciated to N1,599 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data published by the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira fell to N1,599…
Read More “Naira Depreciates To N1,620/$ in Parallel Market” »
The naira yesterday appreciated to N1, 618 per dollar in the parallel market from N1,620 per dollar on Monday. But, the Naira depreciated to N1,604 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data published by the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira rose to N1,604…
Read More “Naira Appreciates To N1,618/$ in Parallel Market” »
The naira, on Monday, dropped to N1,612 per dollar at the official side of the foreign exchange (FX) market. The current rate represents the lowest since December 4, 2024, when the price of a dollar was N1,613.69. At the Nigeria Foreign Exchange Market (NFEM), the local currency depreciated by 2.89 percent to N1,612.23/$ on Monday…
Read More “Naira Plunges Further To N1,612 /$ At Official Market” »