Nigeria’s foreign reserves recorded the lowest drop in the last four years, according to data from the Central Bank of Nigeria (CBN). The records show that the movement in reserves drastically slowed in the last one year when compared to the drops from 2013. From April...

The naira, which came under pressure last week following the partial deregulation of the downstream petroleum sub-sector, has to be devalued, with a flexible foreign exchange policy put in place, industry experts have said. The currency had on Friday plunged to 360 against the United...

A Nigerian Lawyer and human rights activist, Mr. Femi Falana (SAN), filed a suit before the Federal High Court in Abuja on Wednesday, praying for an order restraining the Central Bank of Nigeria from allowing market forces to determine the exchange rate of the...

BDCs to introduce forex band, reforms for parallel market Foreign currency speculators, who launched an unprecedented attack against the naira in the last two weeks, got their fingers burnt on Tuesday when the nation’s currency staged a major recovery, rising to N310 to a dollar...