Nigeria's FX Market Hits Record $4.4B as Political and Oil Whiplash Shake the Floor

$4.375 billion — the weekly turnover of Nigeria's foreign exchange market, shattering the 2026 record and signaling a seismic shift in currency dynamics.

Money Moves

• FX market explodes — Total transactions surged 83% week-on-week to $4.375 billion, with spot trades driving the spike and analysts pointing to Dangote Refinery's temporary dollar pricing as a key catalyst.
• Peter Obi vs CBN — The NDC presidential candidate vows to slash interest...