Nigeria’s Foreign Reserves Decline By $1.82bn In Four Months   The external reserve is expected to continue its downward trend in the coming weeks as major sources of forex inflows deteriorate. Nigeria’s foreign exchange reserves have dropped by $1.82 billion over the past four months, official data...

Airfares Rise As Foreign Airlines Hike Exchange Rate   International airfares on Nigerian routes have gone up further by over 20 per cent after foreign airlines raised the exchange rate for ticket sale from N462 per dollar to N551 per dollar. International travellers on Nigerian routes have...

Foreign Reserves Drop By $1.43bn In Ten Weeks   Official forex reserves status data report obtained from the Central Bank of Nigeria (CBN) indicated that forex reserves declined by $163.67 million last week. It capped a 10-week consecutive fall. The data showed that forex reserves depleted from...

Foreign Portfolios Hit Three-month Low   Foreign investors’ transactions in the market have dropped to lowest point in the past three months as concerns mounted over worsening foreign exchange (forex) crisis. Trading data on foreign portfolio investments (FPIs) released at the weekend indicated that foreign transactions dropped...

CBN, Importers, Exporters Dominate I&E FX Window - Report   The forex market is segmented with multiple exchange rates, with the Investors and Exporters window (I&E FX) window as the most important rate. In a report, Managing Director, Financial Derivatives Company Limited, Bismarck Rewane, said the Central...

Economic Recovery’ll Continue On Rising Oil Prices - Bismarck Rewane   The Managing Director and Chief Executive Officer of Financial Derivatives Company Limited, Bismarck Rewane, has said Nigeria’s economy is expected to rebound as oil prices are likely to remain higher. Rewane spoke during Stanbic IBTC Holdings...