The Central Bank of Nigeria (CBN) supplied a total of $29.5 million at Thursday’s FX auction as nine banks bid N765 and N775 at the I&E window.
But the currency depreciated by 0.25 percent on Thursday at the Investors and Exporters (I&E) forex window as the dollar was quoted at N765.13 as against N763.17 quoted on Wednesday, data from the FMDQ indicated.
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Traders attributed the naira depression to increased demand for dollars, mostly from individuals who want to travel for education, tourism or for business.
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.
