The foreign exchange market on Tuesday opened with the dollar trading at between N378 and N380 in Lagos black markets.
At Broad Srteet and Festac areas of Lagos, the dollar is trading at N380 while in Apapa it is selling at N378 per dollar.
“Dollar will not go down again,” one of the black-market operators at Broad Street told BusinessDay on Tuesday.
At the close of business on Monday, the Nigerian Naira appreciated to N378/$ from the earlier trading of N380/$ across Lagos.
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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.
