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Forex turnover at the official foreign exchange market has increased to $11.43bn within over two months of trading following fresh reforms by the Central Bank of Nigeria. An analysis of reports and data of daily forex transactions recorded on the website of FMDQ Securities, a platform that publishes official foreign exchange trading in the country, […]

The Central Bank of Nigeria (CBN) and international airlines operating in the country are at odds over the remaining amount of unpaid ticket revenue trapped in Nigeria. While the CBN claims to have settled all verified claims, amounting to $136.73 million, the International Air Transport Association (IATA) insists approximately $700 million remains outstanding. On Tuesday, […]

The Nigerian naira has plunged to a record low of N1348.63 per dollar, marking a staggering 51.21% depreciation since last Friday and raising alarm bells across the nation. This historic low defies ongoing efforts by the Central Bank of Nigeria (CBN) and the federal government to stabilize the currency, leaving many wondering what lies ahead […]