Forex

FX utilisation jumped 91.1 percent from $26.65 billion in 2024, reaching its highest level since 2019.

July 13, (THEWILL) — Nigeria’s foreign exchange market recorded its steepest weekly decline in turnover this year, with total transactions across the FX Spot and Derivatives markets falling 46.57 percent to $1.631 billion in the week ended July 10,...

June 14, (THEWILL) — The Nigerian naira has sustained its recovery following a steep decline in value as the foreign exchange reform initiated in 2023 reached its third anniversary on June 14, 2026.The Central Bank of Nigeria (CBN) announced...

February 17, (THEWILL) — The Nigeria Customs Service has moved to clear up confusion over who determines the foreign exchange rates used in valuing imported and exported goods at Nigerian ports, emphasising that it does not set or...

February 12, (THEWILL) — Nigeria attracted $21 billion in capital importation between January and October 2025, marking a sharp rise in foreign investment inflows and signalling renewed investor confidence in the economy, the Minister of Industry, Trade and Investment...

January 30, (THEWILL) – The Central Bank of Nigeria (CBN), has concluded the payment of all verified claims of backlog of foreign exchange owed to foreign airlines, with an additional $64.44 million to the concerned airlines. Acting Director of Corporate...

November 06, (THEWILL) - Fitch Ratings has affirmed Nigeria’s long-term foreign currency credit default outlook at B- citing recent policies by President Tinubu as responsible for the stable outlook. It also raised concerns over the proposed $10 billion forex loan...

November 02, (THEWILL) - Operatives of the Economic and Financial Crimes Commission (EFCC), have arrested eight suspected forex racketeers in Kano. Some of the suspects were nabbed for engaging in forex trade without a legitimate operating license. The development followed a...

November 02, (THEWILL) - Operatives of the Economic and Financial Crimes Commission (EFCC,) on Tuesday, raided some black market forex offices in Abuja. According to a report by PREMIUM TIMES, the anti-graft officials stormed the Sheraton Hotel area of Abuja,...