CBN Launches Centralised System to Monitor BDC Transactions   The Central Bank of Nigeria (CBN) has introduced a comprehensive real-time monitoring framework for Bureau De Change operators, unveiling a centralised transaction-tracking platform aimed at strengthening oversight, improving transparency, and enhancing compliance across Nigeria’s foreign exchange market. A...

CBN’s Forex Liquidity Push Strengthens Naira’s Stability   The Central Bank of Nigeria’s recent measures have lifted dollar liquidity in the foreign exchange market, raising hopes of a more stable naira. These reforms, coupled with rising inflows, have provided short-term relief, but sustaining the trend will...

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...

Vessel Traffic Increases at Lagos Port Despite Forex Challenges   Despite the fluctuating exchange rate and other operational challenges, vessel activities have recorded a significant surge at Lagos port in the past week. The Nigerian Ports Authority(NPA)'s Daily Shipping Position between March and date showed that since...

FX Inflow Rises by 20.62% as CBN's Share Declines   The Nigerian economy recorded a rise in foreign exchange inflow during the fourth quarter of 2024, according to the latest Central Bank of Nigeria (CBN) Economic Report. The report revealed that total foreign exchange inflow rose by...

Forex Stability Boosts Manufacturers' Confidence - MAN   Manufacturers are optimistic about the stability of the sector following a challenging period of unsold inventory and economic uncertainty, according to the Chairman of the Manufacturers Association of Nigeria (MAN) Ogun State Chapter, George Onafowokan. It was reported in...