Foreign Exchange Transactions

March 24, (THEWILL) – Nigeria is in for a fresh foreign exchange crisis as the country gradually returns to increased importation of petroleum products which it had assured the world was over.   After decades of massive importation of petroleum products,...

January 31, (THEWILL) - The Central Bank of Nigeria (CBN) has issued a new directive to banks in the management of their foreign currency exposures which the apex bank said had created operational challenges in the system. In a letter...

January 28, (THEWILL) - The Group Managing Director and Chief Executive Officer, of Nigerian Exchange Group Plc, Mr Temi Popoola has said that the Exchange is working with the regulator to review its listing rules aligning them with global...

October 29, (THEWILL) - In a recent market notice, the FMDQ Exchange has announced a significant change in the terminology used within the Nigerian Foreign Exchange (FX) market. The FMDQ informed all stakeholders in the Nigerian Foreign Exchange (FX) market...

October 18, (THEWILL) - Nigeria’s naira closed trading at a record low of N1,100 per dollar on the parallel market on Wednesday according to data from Aboki.fx, an online forex tracking platform. Lagos street currency traders who spoke to THEWILL...

October 15, (THEWILL) - Four months after the foreign exchange (FX) reform of June 14, 2023 that abolished the much-criticised multiple exchange segments and set the naira tumbling, the local currency depreciated to N764.86/$ on Friday, October 13 –...

October 03, (THEWILL) - FMDQ Securities Exchange secondary market turnover hits N59.3 trillion between June and August. The figure is higher than N53 trillion achieved in the corresponding period in 2022. Secondary market turnover on FMDQ Exchange in August 2023 stood...

October 02, (THEWILL) - The Central Bank of Nigeria (CBN) has revealed that the economy recorded $10.7 billion aggregate foreign exchange inflow in April and May 2023 The CBN, which disclosed this in its May economic report on foreign...

September 24, (THEWILL) - In the intricate world of international diplomacy and economic policy, where the interplay of global forces can shape the destiny of nations, visionary leadership emerges as the irreplaceable linchpin for fostering progress, prosperity and transformative...

September 13, (THEWILL) - The Central Bank of Nigeria (CBN), has debunked viral social reports, that it is planning to introduce a new Naira policy in November, which will make $1 equal to N1.25. The apex bank issued the rebuttal...