FX reforms drive $500m daily turnover

    Wasiu Alli | Top Stories | May 28, 2025    
Get Unlimited Access
Subscribe to unlock this article

Complete digital access to quality journalism on any device. Cancel anytime during your trial.

Once registered, you can:

  • Read this article and many more, including access to epapers and research
  • Enjoy customize article feed/recommendation based on your profile
  • Enjoy access to Businessday exclusive events
  • One-Access accross Businessday platforms

Share this article
Shared
1800
times

Nigeria’s foreign exchange (FX) market is witnessing a historic turnaround as average daily turnover approaches $500 million, a sign that the authorities' sweeping reforms are boosting investor confidence.

Continue reading your article with a
BusinessDay subscription





Already a subscriber?
Sign In
RECOMMENDED STORIES
Markets
MTN, NB, Guinness to resume dividend payments as pressure eases
MTN Nigeria, Nigerian Breweries and Guinness Nigeria are on track to resume dividend payments by the end of 2025 as pressure eases...
Chinwe Michael | Aug 20, 2025
Analysis
Nigeria’s recovery costs more than a meal, experts warn
In Lagos, two pieces of pomo now sell for N500, turkey for N8,500 a kilo, and fares for a typical commute have doubled since last year...
Oluwatobi Ojabello | Aug 19, 2025
Agriculture
Nigeria’s fish supply gap opens N23trn opportunity
Nigeria’s fish supply gap has created a N23 trillion opportunity for entrepreneurs ready to tap into the market and build wealth...
Odinaka Anudu | Aug 18, 2025
Technology
How airtime lending became telcos' multi-billion naira goldmine
In 2024, Samuel Ojimba travelled from Lagos to Zamfara. While in a local community, gunshots suddenly rang out, sending everyone fleeing...
Royal Ibeh | Aug 15, 2025
support_agent
phone
mail_outline
language
help_outline
Conference Ad Conference Ad