Forex Review
Nigerian SEC Proposes Significant Fee Hikes for Crypto Service Providers
The Securities and Exchange Commission (SEC) has proposed amendments to the rules governing platforms offering crypto services.
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The proposed changes include substantial increases in registration fees for crypto exchanges, from 30 million naira ($18,620) to 150 million naira … Continue Reading
Central Bank of Nigeria Sells Record N1.3 Trillion in Treasury Bills to Bolster Forex Reserves
In a bid to fortify Nigeria’s foreign exchange reserves and stabilize the Naira amidst mounting forex pressures, the Central Bank of Nigeria (CBN) has successfully auctioned a record N1.3 trillion in Treasury Bills, targeting overseas investors.
The sale of Treasury … Continue Reading
Binance Ceases NGN Services in Nigeria Amid Regulatory Disputes
Binance, a prominent global cryptocurrency exchange, has announced the termination of all services involving the Nigerian naira (NGN) in Nigeria. The decision comes amidst ongoing regulatory disputes with the Nigerian government and accusations of forex market manipulation and illicit fund … Continue Reading
Bitcoin Hits New All-Time High, Surpassing $69,000
In a historic moment for the world of cryptocurrency, Bitcoin reached a new all-time high on Tuesday afternoon, surpassing the previous record set in November 2021. The price of Bitcoin soared to … Continue Reading
Gold Hits All-Time High Amid Geopolitical Tensions and Rate Cut Bets
The price of gold surged to an all-time high on Monday. Gold futures for April delivery rose by 1.4 percent to reach an impressive $2,125.65 per ounce, while … Continue Reading
USD Supply Surges to $296 Million as Naira Gains Momentum Against Dollar in Forex Market
In Nigeria’s foreign exchange with Naira against dollar, the supply turnover of the US dollar surged to $296.00 million at the close of trading … Continue Reading
Today Exchange Rates: Naira Appreciates to N1460 Per Dollar in Black Market
The Nigerian Naira has seen an appreciation today February 28, 2024, gaining against the US dollar and selling at N1460 to a dollar in the black market.
The black market rate is subject to certain factors like Supply and demand … Continue Reading
Today FX Rates: Naira Appreciates to ₦1,500.349 Per Dollar Following Crackdown on BDC Operators
The naira has registered a sharp move against the dollar in the exchange market. The naira to dollar rate has been in fluctuation since the beginning of 2024.
Today, February 25, 2024, it is exchanging 1 US Dollar for 1,500.349 … Continue Reading
Naira Slides as Banks Sell $3.3 Billion Amidst Fresh Forex Market Concerns
CBN Grapples with Increased Gap Between Official and Parallel Markets
The Nigerian naira witnessed a fresh decline against the US dollar, both in the official and parallel foreign exchange markets on Friday, raising concerns amidst efforts by the Central Bank … Continue Reading
Nigerian Government Mulls Conversion of Foreign Currency in Dom Accounts to Naira
Move Aims to Stabilize Naira Amidst Record Fall
The Federal Government of Nigeria is reportedly considering a policy shift that would involve converting foreign currencies in domiciliary accounts to naira.
Sources within the Presidency reveal that the plan is designed … Continue Reading