Nigeria’s formal remittance inflows reached a record $947 million in July 2026, bringing the country within just $53 million of the Central Bank of Nigeria’s $1 billion monthly target. At the same time, the naira to dollar exchange rate has remained relatively stable, with the official Nigerian Foreign Exchange Market closing around ₦1,337/$1 at the…
Nigeria’s foreign reserves have climbed to $53.11 billion, putting the country just $142 million below the level recorded in January 2009, when reserves reached $53.25 billion. The latest figure, reported by the Central Bank of Nigeria as of August 24, represents the strongest reserve position in more than 17 years. The increase is significant because…
The Dollar to Naira exchange rate remained relatively stable on Monday, August 24, as the naira continued to trade within a narrow range in the official market while maintaining a wider gap with the parallel market. The latest confirmed official figure from the Central Bank of Nigeria showed the Naira to dollar rate at ₦1,346.49…
The Nigerian Exchange (NGX) has recorded one of its strongest rallies in recent history, with investors gaining more than ₦9.3 trillion during a remarkable seven-day buying spree that has reinforced confidence in the country’s capital market. The sustained rally has been driven by strong demand for banking, industrial and energy stocks, pushing the NGX to…
