Access, UBA, Other Banks Release New Selling, Buying Rate for US Dollar, Pound, Euro

Access Bank, UBA, and other Nigerian banks have released new selling and buying rates for the US dollar, British pound, and Euro. The US dollar saw a slight appreciation in the official foreign exchange market on Friday, with rates varying among participants.

While International Money Operators (IMTOs) pegged the dollar exchange rate, the British pound and Euro saw the Naira depreciate in the official market session. The Naira also lost value against the pound and Euro compared to the previous session.

Despite this, the Naira improved against the dollar in the black market. The Nigerian government has taken steps to strengthen oversight in the forex market, with the newly assented Investments and Securities Act 2025 introducing major reforms.

It is now illegal to operate digital asset exchanges or online forex trading platforms without formal registration with the Securities and Exchange Commission (SEC).