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CBN plans fresh battle against forex speculators as naira slides

Summary by Punch Newspapers

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, says the apex bank remains resolute in its commitment to maintaining order in the country’s foreign exchange market by identifying and eliminating bad actors whose activities undermine the stability of the naira. This came as findings showed that the naira depreciated slightly at the official

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CBN plans fresh battle against forex speculators as naira slides

9 days ago

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WeeTracker

Partner Content: Is Forex Trading Legal in Nigeria?

The worldwide acceptance of Forex trading has reached Nigeria. However, many people still doubt whether foreign exchange (forex) trading is lawful within Nigerian boundaries. The article explains forex trading regulations in Nigeria and provides step-by-step guidance for beginners who want to start trading legally. Forex Trading in Nigeria: Legal Framework Participation in foreign exchange trading exists legally in Nigeria and is subject to offi…

8 days ago

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News Central - Latest Africa News

Naira’s Slide Spurs New CBN Action Against Forex Speculators

According to the governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, the apex bank is steadfast in its resolve to uphold order in the nation’s foreign exchange market by locating and stopping dishonest players whose actions jeopardise the naira’s stability. This occurred after research revealed that the naira had a minor decline in value on Tuesday, closing at N1,532.39/$ on the official foreign currency market, as opposed to N1,531.…

8 days ago

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InsideBusiness - Business News in Nigeria

Naira Appreciates To N1,575/$ In Parallel Market - InsideBusiness - Business News in Nigeria

The Naira on Wednesday appreciated to N1,575 per dollar in the parallel market from N1,585 per dollar on Monday. However, the Naira depreciated to N1,535 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data published by the Central Bank of Nigeria (CBN) showed that the indicative exchange rate for the naira rose to N1,535 per dollar from N1,533 per dollar on Monday, indicating N2 depreciation for the naira. Consequently, the margin…

9 days ago

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economicconfidential.com

CBN Deepens Fight Against Forex Speculators as Naira Slides - Economic Confidential

CBN Deepens Fight Against Forex Speculators as Naira Slides The Governor of the Central Bank of Nigeria, Olayemi Cardoso, says the apex bank remains resolute in its commitment to maintaining order in the country’s foreign exchange market by identifying and eliminating bad actors whose activities undermine the stability of the naira. This came as findings […] The post CBN Deepens Fight Against Forex Speculators as Naira Slides appeared first on E…

9 days ago

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Nairametrics

CBN committed to rooting out bad actors in Nigeria’s FX market – Cardoso

The governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has reaffirmed the apex bank’s commitment to cleaning up the foreign exchange (FX) market by eliminating bad actors and maintaining a stable exchange rate as a pillar for economic recovery. Cardoso made the statement in his personal remarks at the February 2025 Monetary Policy […] The post CBN committed to rooting out bad actors in Nigeria’s FX market – Cardoso appeared first o…

9 days ago

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