Tag
FX BACKLOGS
The naira continued its downward trajectory on Tuesday, April 29, 2025, closing at N1,602.02/$1 at the official Nigerian Foreign Exchange Market (NFEM).
The Central Bank Governor Olayemi Cardoso has announced that the forensic verification of the $7 billion FX backlogs is nearing completion.
The Central Bank of Nigeria (CBN) has announced that all valid foreign exchange backlogs have now been settled
Data from the Nigerian Exchange (NGX) reveals that foreign participation in the Nigerian equities market dropped to 8.15% in January 2024, a decline compared to 13.92% and 12.76% recorded in the previous and corresponding month of 2023.
Olayemi Cardoso says that the remainder of the bank’s FX backlogs will be cleared in the next few days- most likely in a week and a half.