Foreign exchange (FX) utilisation across Nigeria’s economy dropped by 11% to $5.7 billion in the third quarter of 2024, with the decrease largely attributed to a sharp reduction in invisible transactions. According to the Central Bank of Nigeria’s (CBN) Quarterly Statistical Bulletin, compiled by FBNQuest, FX consumption for non-physical transactions—such as travel, insurance, and remittances—fell … Continue reading Nigeria’s Dollar Demand Falls 11% In Q3 2024 As Invisible Transactions Decline