Tag: Foreign Exchange Market

Nigeria’s Foreign Reserves Surge to $53.11bn, Near 17-Year Record as Dollar Inflows Strengthen

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Nigeria’s Foreign Reserves Surge to $53.11bn, Near 17-Year Record as Dollar Inflows Strengthen

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…

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Exchange and Forex, Finance and Economy

CBN Tightens BDC Forex Rules, Launches Digital Tracker to Monitor Dollar Purchases

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CBN Tightens BDC Forex Rules, Launches Digital Tracker to Monitor Dollar Purchases

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…

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Exchange and Forex, Finance and Economy