6 results for “fx”
CBN Governor Olayemi Cardoso says the reforms that boosted diaspora remittances to nearly $1 billion monthly will be replicated to diversify foreign exchange earnings and reduce oil dependence.
Banks, fintechs and insurers are now the biggest source of dollar demand, underscoring how Nigeria's FX market is being reshaped by a deeper financial system.
Brent slipped toward $104 and WTI to about $94 as supply-route fears eased, a move with direct consequences for Nigeria's budget and FX earnings.
Lower intervention reflects a calmer currency market and record reserves, but analysts caution it may also signal compressed import demand rather than a self-sustaining market.
Foreign capital importation into Nigeria rose by more than 83 percent year-on-year in the first quarter of 2026, led by portfolio investments as global investors returned to the country's money and bond markets.
The gap between spot and forward rates has narrowed, easing one source of corporate uncertainty.