The foreign exchange pressure resumed on Monday, as the dollar sells at N400 at the black market after the Central Bank of Nigeria (CBN) adjusted the currency to N380/$ at Investors and exporters window, over the weekend.
Buying price for dollar is N390 across Lagos black markets, while selling price differs. For instance, at Festac dollar sells at N400 while in Apapa area of Lagos it sells at N397.
The CBN had last week issued a circular on weekly exchange rate disbursement of proceeds of International Money Transfer Services Operation (IMTSO) among dealers.
Consequently, exchange rate from IMTSOs to banks is put at at N376 per dollar, from banks to CBN at N377/$, CBN to BDCs at N378/$ and BDCs to end users not more than N380 per dollar.
HOPE MOSES-ASHIKE
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Hope Moses-Ashike
Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks.
She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings.
Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.
