Nigerian banks like GTBank, First Bank, UBA, Providus, and Wema Bank have lifted restrictions on naira card use abroad, setting new spending limits
Foreign transactions on the Nigerian Exchange rose by 88.54% to N118.9bn in May 2025, boosting total market activity
The naira strengthened slightly against the dollar on the first trading day of July 2025, as Nigeria’s ongoing FX reforms
Foreign investments in Nigeria surged 524% in January 2025, driven by CBN’s aggressive interest rate hikes. Portfolio inflows dominate, while FDI continues to decline.
Despite the euro’s surge against the U.S. dollar in global markets, the Nigerian naira remained steady on the parallel market
Central Bank of Nigeria (CBN) injects $197.71 million into the foreign exchange market to stabilise the naira, enhance liquidity, and counter global economic shifts
The naira struggles below ₦1,550/$ in the parallel market despite growing FX reserves. Meanwhile, global markets await President Trump’s new tariff plans.
Naira has seen depreciation following the Trans-Niger Pipeline (TNP) explosion and the political tensions in Rivers State.
The Naira gained 8.5% on the parallel market in February 2025, closing at ₦1,490/$ as the CBN’s forex interventions bolstered the currency
CBN inflation control strategy aims to bring inflation rate down to a single-digit level as CBN Governor reaffirmed the MPC meeting decision
