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

Power line or electricity line grids Photo by Fré Sonneveld @ Unsplash
Nigeria billionaire Femi Otedola exits Geregu Power in surprise $750mn deal
Read More »
Dr Cassiel Ato Forson, Ghana's Minister of Finance. Photo @ Ghana Parliament/Facebook
Ghana repays $709mn Eurobond obligation ahead of deadline
Read More »
Makkala nguzu Market, Choma, Zambia. Photo by Seiko Yamada @ Unsplash
Zambia inflation ticks up in December despite stronger currency
Read More »

Recent Politics

don-jackson-wyatt-sbhubyl7lWI-unsplash
US launches deadly airstrikes against terrorist groups in Nigeria
Read More »
African election. Photo by Mikhail Nilov @ Pexels
East Africa’s electoral bodies face credibility test over disputed polls
Read More »
Patrice Talon, President of Benin Photo @Patrice Talon/Facebook
Benin court backs constitutional overhaul, extending terms after coup scare
Read More »

Latest Posts

Latest news insights