The naira appreciated to N1,400.47 against a dollar at the official section of the foreign exchange (FX) market on Wednesday. Data from the Nigerian foreign exchange market (NFEM) — the country’s official market — showed that the currency gained N0.75 or 0.05 percent from the N1,401.22 per dollar recorded on January 27. The last time […]
Nigeria’s currency strengthened further at the official foreign exchange market, with the naira closing at N1,419 to the dollar, extending what has been described as its most significant annual performance in more than a decade. Data from the Central Bank of Nigeria showed the spot rate appreciated by 0.72 per cent to N1,419.07 […]
Dollar inflows into Nigeria’s official foreign exchange market fell sharply last week, underscoring continued foreign investor caution despite sustained Central Bank of Nigeria (CBN) intervention and recent market reforms. Data from the Nigeria Foreign Exchange Market showed that total FX inflows declined by 20.67 per cent week on week to $593.70 million, down […]
The Central Bank of Nigeria (CBN) has approved six dairy companies access to foreign exchange (FX) needed for the importation of milk and dairy products into the country. The apex bank listed the companies as FrieslandCampina WAMCO Nigeria, Chi Limited, TG Arla Dairy Products Limited, Promasidor Nigeria Limited, Nestle Nigeria Plc (MSK only) and Integrated […]