Foreign exchange (forex) inflows into the country’s economy declined by 25 percent in April 2020 to $9.7 billion from $12.9 billion in March 2020. This was due to the weak global demand for oil on account of Coronavirus (COVID’19) Pandemic.

Top securities dealers in Nigeria have urged the Federal Government to expand the agriculture sector to create job opportunities for youths and leverage Commodities Exchanges to grow the country’s foreign exchange earnings, forex, in view of dwindling income from the international oil market.

The declining fortune of the Naira against the dollar in the parallel market is expected to persist this month with the exchange rate rising to N480 per dollar by the end of the month.

The volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the Nigerian foreign exchange market fell by six percent, month-on-month, to $937.27 million last month from $992.12 million in June, 2020.

The volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the Nigerian foreign exchange market fell by six percent, month-on-month, to $937.27 million last month from $992.12 million in June, 2020.

The volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the Nigerian foreign exchange market fell by six percent, month-on-month, to $937.27 million last month from $992.12 million in June, 2020.

As Nigerians grapple with the rising rate of unemployment in the country, the CEO of fledgling forex trading firm, Leo Fx Academy, Mr. Victor Iloka, has enjoined the populace to embrace forex trading to beat the scourge of poverty.

The persistent liquidity crunch in the Nigeria’s foreign exchange market as well as the steady rise in the reported cases of Coronavirus, COVID-19, have stalled recovery in the nation’s stock market.

THE Central Bank of Nige-ria (CBN) yesterday extended foreign exchange (forex) restriction to importation of maize/corn, making it 44 items affected by its forex restrictions. The CBN had in 2016 restricted 41 items from access to officially sourced forex.

Nigerian Stock market suffered another week of losses on rising coronavirus, COVID-19 cases in the country and the persisting Foreign Exchange, Forex illiquidity in the market.

NIGERIA’S foreign exchange market under the five years of the Muhammadu Buhari Presidency is characterised by two bouts of naira devaluation, each preceded by prolonged period of steady decline in external reserves, triggered by sharp fall in crude oil price, and exit of foreign portfolio investors from the country.

The Central Bank of Nigeria  (CBN) yesterday said it has resumed the sale of foreign exchange (Forex) to commercial banks in view of the gradual easing of Corona Virus Disease (COVID 19)  lock down.

The Petroleum Products Pricing Regulatory Agency (PPPRA), Monday said it is engaging with the Central Bank of Nigeria (CBN) on ways to make foreign exchange accessible to private oil marketing companies seeking to import Premium Motor Spirit (PMS), also known as petrol, and other petroleum products.

Emeka Anaeto As the battle to save the Naira from a free fall ensues, the Central Bank of Nigeria (CBN) has resumed a weekly rate regulation, with independent money transfer operations ordered to sell at N376/$1 to banks while end-users will get the USDollar at N380. This forms part of the technical devaluation embarked upon […]

THE volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the Nigerian foreign exchange market grew by 46 per cent, month-on-month, to $8.2 billion in February from $5.6 billion in January, 2020.