•Declines 33.8% M-o-M, records significant depreciation By Elizabeth Adegbesan The volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the Nigerian Foreign Exchange Market rose sharply by 63.8 per cent, year-on-year (YoY) to $2.13 billion in February 2022 from $1.3 billion in February 2021. However, on a monthly basis, turnover fell […]

The volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the foreign exchange market rose sharply by 152 per cent, Year-on-Year (YoY), to $2.16 billion in January 2022 from $906.44 million in January   2021.

By Elizabeth Adegbesan The volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the Nigerian foreign exchange (Forex) market fell  by five per cent, Year-on-Year (YoY) to $31.29 billion last year from $33.04 billion in 2020. Vanguard findings from the Central Bank of Nigeria, CBN, forex data    show that   turnover recorded […]

The lingering row between private depot owners and the Federal Government over dollar payment of dues and levies is set to shatter the stability of fuel supply and price across the country this week.

The members of the Central Bank of Nigeria’s, CBN,   Monetary Policy Committee, MPC, have called on the apex bank to carry out a comprehensive review of the foreign exchange market operations in the country to determine the fundamental drivers, and relative sizes of the segments of the market.

The Central Bank of Nigeria, CBN, has directed banks to apply the indicative exchange rates in the Investors and Exporters (I&E) window for   outbound payments through the  Pan African Payments and Settlement System, PAPSS.

Nigeria’s local currency, Naira, faced severe pressures last week, forcing it to a record depreciation against the US Dollar  in both the parallel market and Investors and Exporters (I&E) window.

By Arize Nwobu THE challenge of foreign exchange, forex, in the economy has been recurrent over the years and it is for reasons that are fundamental and obvious. The Nigerian economy is monolithic in structure with oil accounting for 90 per cent of exports, 25 per cent of Gross Domestic Product and 80 per cent of […]

The Central Bank of Nigeria, CBN, has said it had no plans to convert foreign currencies in the domiciliary accounts of bank customers to Naira.

Banks Chief Executives have warned against presentation of fake documents for foreign exchange purchase, even as they expressed readiness to sell foreign exchange to members of the public as directed by the Central Bank of Nigeria (CBN).