‎Black Market Reopens as Naira Gains ₦10 to Trade at ₦1,550/$ ‎Trading in Nigeria’s parallel market resumed on Monday, August 11, after a week-long suspension triggered by the naira’s persistent depreciation against the US dollar. The pause, which began on August 4, came after the...

CBN to Take Legal Action Against FX Contract Defaulters Post-Audit   The Central Bank of Nigeria (CBN) has disclosed that it is considering legal actions against the violators of the foreign exchange forward contracts after the completion of a forensic audit of those contracts. CBN indicated this...

CBN Clamps Down on FX Rules Violators after Forensic Audit The Central Bank of Nigeria has concluded a forensic audit into undelivered foreign exchange forward contracts and is now reviewing appropriate legal action against violators of FX rules and regulations. The CBN announced that it will...

The 650,000 barrels per day capacity Dangote Petroleum Refinery in the Ibeju-Lekki area of Lagos is currently bailing the Federal Government

Black Market Halts Trading as Naira Slides to ₦1,565/$ Trading activities in the parallel market came to a standstill on Monday, August 4, following the persistent depreciation of the naira against the US dollar over the past week. Currency dealers in Abuja told Economic Confidential that...

The Nigeria Inter-Bank Settlement System (NIBSS) data has shown that the number of Nigerian bank account owners linked to Bank Verification Number (BVN) hit 66.2 million at the end of July, 2025.