The Central Bank of Nigeria (CBN) has observed significant movements in the foreign exchange market between April 3 and 4, 2025, largely driven by global macroeconomic changes affecting emerging markets and developing economies.
The recent announcement of new import tariffs by the US government has triggered a period of adjustment across global markets.
Crude oil prices have declined by over 12% to approximately $65.50 per barrel, presenting new challenges for oil-exporting countries like Nigeria.
In response, the CBN provided $197.71 million to authorized dealers on April 4, 2025, to ensure adequate liquidity and support orderly market functioning.
The CBN remains committed to fostering a stable, transparent, and efficient foreign exchange market.
The bank continues to monitor global and domestic market conditions, expressing confidence in Nigeria’s foreign exchange framework.
In line with this, authorized dealers are reminded to adhere to the principles outlined in the Nigeria FX Market Code and maintain high standards in their dealings with clients and market counterparties.
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