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
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
In what appears to be a rare moment of convergence in Nigeria’s foreign exchange landscape, the naira on Friday traded at ₦1,535 to the United States dollar in the parallel market, just ₦1 shy of the ₦1,536/$1 recorded at the official Nigerian Autonomous Foreign Exchange Market (NAFEM). The marginal difference has sparked renewed discussions among
July 10, 2025 | Lagos, Nigeria In a surprising twist amid challenging economic indicators, the Nigerian naira has posted unexpected gains in the foreign exchange market, maintaining relative stability even as the country’s external reserves decline and oil prices weaken. According to financial analysts, the naira’s resilience can be attributed to a combination of policy
Lagos, Nigeria – June 28, 2025 The Nigerian naira recorded a modest gain in the parallel market, appreciating to ₦1,575 per dollar on Friday, reflecting renewed confidence and improved foreign exchange liquidity in the informal segment of the market. Currency dealers across major cities, including Lagos and Abuja, reported increased dollar availability and moderated demand,
Seven vessels carrying Premium Motor Spirit (PMS), commonly known as petrol, are expected to arrive at Nigerian seaports between Monday, March 17, and Sunday, March 23, as efforts continue to stabilize fuel supply across the country. According to a document obtained from the Nigerian Ports Authority (NPA) on Thursday, these vessels will deliver a combined
