An examination of Nigeria’s foreign exchange data for 9 January, reveals a market in pause mode rather than motion reflecting Thursday market. According to figures published by the NGNToday platform, the naira closed the trading day unchanged against the United States dollar across key market segments. The official exchange rate settled at N1,419 per dollar, while the black market rate remained fixed at N1,460, confirming a session defined by stability…

President Bola Tinubu has lauded the Nigerian capital market, corporate citizens, and domestic investors for a historic achievement as the Nigerian Exchange (NGX) crossed the N100 trillion market capitalisation threshold. In a statement by Bayo Onanuga, his Special Adviser on Information and Strategy, on Thursday, the President described the milestone as the birth of a new economic reality and a clear indicator of the country’s economic rejuvenation. He urged Nigerians…

The Nigerian foreign exchange market presented another tale of divergence on 8 January, as the British pound sterling displayed contrasting movements across official and parallel trading windows. Fresh figures published by the NGNToday platform indicate that while the pound weakened slightly at the official market, pricing in the black market remained unchanged, reinforcing the cautious and segmented nature of Nigeria’s FX environment. At the official foreign exchange window, the British…

The Nigerian foreign exchange market displayed yet another day of contrasting fortunes for the US dollar on 8 January, with the official and black market rates moving in opposite directions. According to the NGNToday platform, the dollar weakened slightly in the regulated window, while the parallel market remained unmoved, reflecting persistent structural gaps in the country’s currency markets. At the official market, the US dollar was exchanged at N1,419, down…

Nigeria’s foreign exchange market recorded a split performance for the Euro on January 8, as fresh data from the NGNToday platform revealed diverging movements between the official market and the parallel segment. While the official rate reflected a noticeable adjustment, the black market maintained a largely unchanged posture, underscoring the uneven pace of currency price discovery across the FX landscape. At the official exchange window, the Euro was quoted at…

The Lagos State Government has kicked off the countdown to the ninth edition of the All Africa Music Awards (AFRIMA), reaffirming the city’s position as the heartbeat of the continent’s creative economy. At a high-level press conference held on Wednesday at the Bagauda Kaltho Press Centre in Alausa, the Commissioner for Tourism, Arts and Culture, Toke Benson-Awoyinka, declared that Lagos is ready to welcome the world for a week-long celebration…

Trading in the foreign exchange market on 7 January, delivered another reminder of the fluid nature of the naira’s relationship with major global currencies, as movements against the euro reflected shifting pressures across both the official and informal markets. According to data from the NGNToday platform, the euro closed at N1,667 at the official market and N1,715 at the parallel market, following a weaker outing by the naira in the…

The Nigerian naira strengthened noticeably against the British pound on 7 January, posting gains at both the official and parallel segments of the foreign exchange market.  Data obtained from the NGNToday platform showed that the pound exchanged at N1,920 at the official market and N2,000 at the black market, marking a significant improvement from the weaker levels recorded a day earlier. On 6 January, the naira had traded at N1,936…

The Nigerian naira recorded mixed performance against the United States dollar on 7 January, as it remained unchanged at the official foreign exchange market while depreciating at the parallel market. Information obtained from the NGNToday platform indicated that the dollar traded at N1,430 at the official window, the same rate recorded on the previous trading day, 6 January. In contrast, the black market rate weakened to N1,460, reflecting a decline…

The United States dollar displayed a mixed performance against the Nigerian naira on 6 January, maintaining stability at the official market while easing in the parallel segment of the foreign exchange market. Data sourced from the NGNToday platform indicate that the dollar continued to trade at N1,430 at the official window, unchanged from the previous day, while the black market rate declined to N1,460, reflecting a depreciation from levels recorded…

The British pound presented a contrasting picture against the Nigerian naira on Monday, 6 January, as movements at the official and parallel segments of the foreign exchange market diverged sharply.  Following the exchange rate market data obtained from the NGNToday platform reveal that the pound weakened at the official window, exchanging at N1,936, while gaining significant strength in the black market, where it rose to N2,150, compared with rates recorded…

The euro retreated against the Nigerian naira on 6 January, as the foreign exchange market adjusted to changing demand conditions following the relative calm recorded a day earlier.  Latest figures published by the NGNToday platform show that the European currency exchanged at N1,687 through official channels, while the rate in the parallel market slipped to N1,680, indicating a depreciation from the levels seen on 5 January. Market observers describe the…