The Central Bank of Nigeria (CBN) has noted recent movements in the foreign exchange market
between April 3 and 4, 2025, reflecting broader global macroeconomic shifts currently 0affecting
several Emerging Market and Developing Economies.
These developments was as a result of the recent announcement of new import tariffs by the United
States government on imports from several economies, which has triggered a period of adjustment
across global markets. Crude oil prices have also weakened – declining by over 12% to
approximately US$65.50 per barrel – presenting new dynamics for oil-exporting countries such as
Nigeria.
The CBN in a statement signed by the Director, Financial Markets Department,
Omolara Omotunde Duke (Ph.D.)
Said ” in line with its commitment to ensuring adequate liquidity and supporting orderly market functioning,
the CBN facilitated market activity on Friday, April 4, 2025, with the provision of US$197.71 million
through sales to Authorized Dealers. This measured step aligns with the Bank’s broader objective of
fostering a stable, transparent, and efficient foreign exchange market.”

The statement further notes that the apex bank will continue to monitor global and domestic market conditions and remains confident in the
resilience of Nigeria’s foreign exchange framework, which is designed to adjust appropriately to
evolving fundamentals.

It reminded all Authorized Dealers to adhere strictly to the principles outlined in the Nigeria FX
Market Code and to uphold the highest standards in their dealings with clients and market
counterparties.