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Financing your Nigerian forex trading activity

Following the dip in oil prices over the last 20 months, Nigerians are in a major foreign exchange impasse. The Central Bank of Nigeria (CBN) reports that its monthly forex earnings have dipped by 69% in this period, and US dollar reserves are fast depleting while Nigeria’s import bill stays …

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What now for the Naira?

The Nigerian Naira has continued its decline since mid-June of 2015, as crude oil prices tested a $115/bbl price level before it came crashing, which saw the international price of the black gold at $44.25 in early September 2016 and successfully terminating a 4-year successive run over $100 in the …

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Prospects for the Naira in 2016

The naira faces a host of challenges in 2016, including mounting pressure from the international finance community to devalue the country’s currency in the face of the global oil crisis. Nigeria’s government appears determined to defend the currency, with president Muhammadu Buhari maintaining that he will protect the naira from …

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