Naira firms against dollar across FX markets

Nigeria’s currency on Wednesday strengthened against the dollar across foreign exchange market segment, driven by forces of demand and supply. The local currency gained 0.21 percent as the dollar closed at N474 on Wednesday as against N475 on Tuesday at the parallel market. Naira remained stable at the Bureau De Change (BDC) segment of the……

Foreign transactions in Nigerian equities hit 5-year low as FX crisis lingers

Foreign portfolio investors have continued to reduce exposure in Nigerian equities with transactions reaching the lowest levels in five years in the month of November, according to data released by the Nigerian Stock Exchange, showing the participation between local and foreign investors Africa’s biggest economy is battling to meet a backlog of unmet dollar demand,……