September 20, 2025
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FX

Kiin360 FX
CBN General

CBN’s $2 Billion FX Forward Audit: The Truth Unfolds and Who Bears the Losses

In a dramatic turn within Nigeria’s foreign exchange market, the Central Bank of Nigeria (CBN) has concluded a forensic audit into undelivered FX forward contracts, valued at around $2 billion, igniting serious questions about market integrity, custodial responsibilities, and the fate of these stalled commitments. FX forwards function as pre-agreed deals: counterparties hand over naira today

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General

Naira Weakens Further to ₦1,537/$ at Official Market Amid FX Liquidity Strain

ABUJA, July 24, 2025 The Nigerian naira continued its downward slide on Wednesday, depreciating to ₦1,537 per US dollar at the official Nigerian Autonomous Foreign Exchange Market (NAFEM), as foreign exchange pressures persist despite recent monetary tightening by the Central Bank of Nigeria (CBN). According to data from the FMDQ Exchange, the local currency lost

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