April 26, 2026
Nigeria
Former Head of State Gowon Decries Rising Insecurity in Northern Nigeria
News Today In the News

Former Head of State Gowon Decries Rising Insecurity in Northern Nigeria

  • November 28, 2024
Police Silent as Amnesty Alleges Excessive Force Used During August #EndBadGovernance Protests
News Today In the News

Police Silent as Amnesty Alleges Excessive Force Used During August #EndBadGovernance Protests

  • November 28, 2024
The Central Bank of Nigeria (CBN) has introduced a minimum trade value of $100,000 for interbank foreign exchange transactions conducted through the Electronic Foreign Exchange Matching System (EFEMS). The directive, dated 25 November 2024, was signed by Dr Omolara Duke, Director of the Financial Markets Department. The CBN stated that the move aims to enhance transparency, efficiency, and compliance within Nigeria’s foreign exchange market. To support this, Bloomberg’s BMatch has been designated as the official order-matching platform for interbank FX trading. The new rules also stipulate that the $100,000 minimum trade value will include incremental clip sizes of $50,000, allowing for flexibility in transaction sizes. The EFEMS is designed to streamline interbank forex trading, minimise counterparty risks, and enforce adherence to CBN regulations.
Business News News Today In the News

Nigeria’s Central Bank  Sets $100,000 Minimum for Interbank Forex Trading via Electronic Foreign Exchange Matching System

  • November 27, 2024
Marketers Raise Alarm Over Petrol Pricing Disparities Between NNPCL and Dangote Refinery
News Today In the News

Marketers Raise Alarm Over Petrol Pricing Disparities Between NNPCL and Dangote Refinery

  • November 27, 2024
Nigeria’s Foreign Reserves Hit $40.88 Billion
Business News

Nigeria’s Foreign Reserves Hit $40.88 Billion

  • November 27, 2024
Nigeria's Cricket Team Crush Cote d’Ivoire with Record 264-Run Victory
Ball Sports Now Sports

Nigeria’s Cricket Team Crush Cote d’Ivoire with Record 264-Run Victory

  • November 25, 2024
Nigeria Partners with Brazil’s FGV to Boost Agriculture Development
News Today In the News

Nigeria Partners with Brazil’s FGV to Boost Agriculture Development

  • November 25, 2024
Senate President Seeks Closer Legislative Ties Between Nigeria and China
News Today In the News

Senate President Seeks Closer Legislative Ties Between Nigeria and China

  • November 21, 2024
Nigeria to Finalize Investment Decisions on Deepwater Projects by Mid-2025
Business News

Nigeria to Finalize Investment Decisions on Deepwater Projects by Mid-2025

  • November 18, 2024
Nigeria Targets $1 Billion Savings with Local Auto Parts Production
Business News

Nigeria Targets $1 Billion Savings with Local Auto Parts Production

  • November 18, 2024