The naira, on Tuesday, closed flat across foreign Exchange (FX) markets as demand for dollars moderated. After trading on Tuesday, the dollar was quoted at N1,534.10, slightly lower than N1,533.56 quoted on Monday at the Electronic Foreign Exchange Matching System (EFEMS), according to data from the Central Bank of Nigeria (CBN).
Authorised currency dealers quoted the dollar at a higher rate of N1,555 on Tuesday, the same rate as on Monday. The FX market recorded the lowest rate of N1,522 per dollar, marginally weaker than N1,520 quoted on Monday.
The local currency appreciated to N1,665 compared N1,680 recorded on Friday on the parallel market, popularly called black market.
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.
