August 3, 2025

exchange rate

General

Nigeria’s Forex Revenue Plunges by 73% Amidst Declining Arbitrage Opportunities

Nigeria’s foreign exchange (FX) revenue has suffered a significant 73% decline in recent months, driven largely by reduced gains from exchange rate arbitrage. The steep drop reflects the dwindling margin between the official and parallel market exchange rates, a situation that previously offered substantial revenue inflow through arbitrage. According to data obtained from the Central

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General

Naira Gains Strength in Parallel Market, Closes Week at ₦1,520/$1 – Above Official Market Rate

Lagos, July 25, 2025 Nigeria’s naira recorded a surprising rebound in the parallel market, closing the week at ₦1,520 per dollar, gaining strength over the Central Bank of Nigeria’s official exchange rate, which stood at ₦1,537 per dollar. This development marks a rare moment where the black market rate outperformed the official rate, reflecting shifting

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