CBN FX Rules: New Manual Aims to Stabilise Nigeria’s Market
For years, Nigeria’s foreign exchange market has been shaped as much by uncertainty as by supply and demand. Importers complained about delays and documentation bottlenecks. Exporters often questioned whether existing procedures encouraged them to repatriate earnings through official channels. Investors worried about policy reversals and access to foreign exchange. The banks found themselves navigating changing […]
Nigerians More Confident with Tinubu’s Economy, Says APC
The All Progressives Congress has defended the economic reforms introduced by President Bola Tinubu, saying Nigerians have reasons to be optimistic about the country’s future because of improvements recorded since the administration came into office in 2023. Speaking on Channels Television’s Sunday Politics, the National Publicity Secretary of the ruling party, Felix Morka said the […]
Manufacturing sector drives 77% forex surge in Nigeria
Nigeria’s total foreign exchange utilisation expanded by a massive 77 per cent in 2025, climbing from $26.65bn in 2024 to $47.17bn over the 12-month period, driven largely by a resurgence in non-agricultural sectors. A Lagos-based finance and economic expert, Sola Adekanmbi, suggested that this aggressive expansion indicates a major rebound in activities like manufacturing and […]
Fiscal, FX reforms push Nigeria’s credit rating higher
Nigeria’s fiscal and foreign exchange reforms that improved external reserves, increased FX liquidity, and strengthened confidence in the economy have prompted an upgrade of the country’s sovereign credit rating, among other economic gains, ARINZE NWAFOR writes Nigeria’s ongoing economic and financial sector reforms have received renewed international recognition following the recent decision by S&P Global […]
Autonomous inflows drive Nigeria’s FX market recovery
The decision to clear over $7bn in unsettled foreign exchange obligations has boosted investor confidence, as rising diaspora remittances, portfolio investments, and non-oil export earnings have strengthened reserves and accelerated recovery in Nigeria’s foreign exchange market, JIDE AJIA writes The decision by the Central Bank of Nigeria to clear more than $7bn in unsettled foreign […]
S&P upgrades Nigeria’s credit rating to ‘B’ amid reforms
S&P Global Ratings has upgraded Nigeria’s long-term foreign and local currency sovereign credit ratings to “B” from “B-”, citing improvements in the country’s macroeconomic profile, external position, and ongoing economic reforms. The US-based global ratings agency announced the upgrade on Friday while affirming Nigeria’s short-term ratings at “B” with a stable outlook. According to S&P, […]
Nigeria’s New Remittance Policy: Impact on FX Liquidity
The Chief Executive Officer of 91 Payments, Pelumi Esho, a licensed International Money Transfer Operator, spoke with FELIX OLOYEDE about the Central Bank of Nigeria’s recent directive requiring IMTOs to settle remittance transactions in naira It is widely expected that the Central Bank of Nigeria’s directive mandating IMTOs to settle remittances in naira will enhance […]