Search

Naira Hits Historic Low as Rates Bite

  • Nigeria’s naira hits a record low of 1,421 per dollar on the official market, following a revision of exchange rate methodology.
  • Central Bank of Nigeria faces criticism over multiple exchange rates and currency management

 

Nigeria’s naira has plummeted to a record low against the US dollar, signalling deepening economic woes for Africa’s largest economy.

Recent Business

South Africa's manufacturing sector takes a dip. Photo by Sam Moghadam @ Unsplash
Can South Africa sustain economic growth amid global turmoil?
Read More »
President Paul Kagame of Rwanda. Photo: Paul Kagame/Facebook
Rwanda plans $6bn nuclear investment to power economic transformation
Read More »
A bustling marketplace in Benin. Photo by Greg Keelen @ Unsplash
Benin slips into deflation as food prices fall, inflation turns negative
Read More »

Recent Politics

Uganda president Yoweri Kaguta Museveni. Photo: Yoweri Kaguta Museveni/Facebook
Can Museveni’s leadership and a new funding model rescue East Africa from chronic cash crises?
Read More »
Nigeria young voters protest for reforms. Photo by Ayoola Salako @ Unsplash
Nigeria’s 2027 election raises political risk for investors
Read More »
Edwin Sifuna, Kenya's ODM secretary-general. Photo: Edwin W Sifuna/Facebook
Is Edwin Sifuna Kenya’s new Raila Odinga?
Read More »

Latest Posts

Latest news insights