CBN: Naira-Official FX Rate Gap Falls Below 2%
By Oluwakemi Kindness The Central Bank of Nigeria (CBN) says the gap between the official exchange rate and Bureau de Change rates has narrowed to below two per cent. The apex bank said the development reflects improving stability in the foreign exchange market. The Acting Director of Corporate Communications and Investor Relations Department of the […]
Nigeria’s Reserves Hit 17-Year High at $52.5bn – CBN
By Oluwakemi Kindness Nigeria’s foreign exchange reserves have climbed above $52.5 billion, reaching a 17-year high, the Central Bank of Nigeria (CBN) has said. The apex bank said the reserves, as of July 17, 2026, had also exceeded its annual target. The CBN attributed the increase to sustained foreign exchange inflows and renewed investor confidence […]
CBN Okays Weekly FX Sale of $150k to Each BDC
By Oluwakemi Kindness The Central Bank of Nigeria (CBN) has approved the participation of licensed Bureau De Change (BDC) operators in the Nigerian Foreign Exchange Market (NFEM). This is part of efforts to improve foreign exchange liquidity in the retail segment of the market and meet the legitimate needs of end users. A statement on […]
Customs Intercepts Undeclared Foreign Currency in Kano
Oluwakemi Kindness The Nigeria Customs Service (NCS) says it has intercepted a total of One Million, One Hundred and Fifty-Four Thousand, Nine Hundred U.S Dollars and One Hundred and Thirty-Five Thousand, Nine Hundred Saudi Riyals undeclared foreign currency at the Aminu Kano International Airport (MAKIA). It said the seizure was made recently during a […]