Abdul Samad Rabiu, chairman of BUA Group, says Nigeria’s foreign exchange reforms have made it easier for businesses to obtain dollars through the market, reducing their dependence on direct allocations

JPMorgan Chase has moved a step closer to establishing a licensed banking operation in Nigeria after depositing ₦50 billion with the Central Bank of Nigeria (CBN), a major regulatory requirement

Nigeria’s insurance companies are awaiting the release of about N300 billion held in escrow accounts as the Central Bank of Nigeria (CBN) begins due diligence to verify the funds following

Nigeria’s oil sector utilised $2.15bn in foreign exchange between January and June 2026, representing an 18.7 per cent decline from the $2.64bn recorded in the corresponding period of 2025, despite

Central Bank of Nigeria (CBN) Governor Olayemi Cardoso has said Nigeria’s fiscal crisis forced policymakers to explore alternative sources of revenue and foreign exchange, warning that dependence on oil earnings

Nigeria’s foreign exchange reserves climbed to $58.81 billion on October 12, moving close to their highest level in nearly 18 years after a sharp increase in the country’s dollar holdings

Nigeria’s external reserves have risen to $54.08 billion, exceeding the CBN’s 2026 projection and reaching the highest level since 2008.