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

Dr Johnson Asiama, Bank of Ghana governor @ BoG Facebook
Ghana slashes interest rate to 18% as inflation eases
Read More »
Addis Ababa, Ethiopia. Photo by Gift Habeshaw @ Unsplash
Singapore to open first East Africa embassy in Ethiopia to boost Asia–Africa trade
Read More »
Safety helmet at an oil field. Photo by Ümit Yıldırım @ Unsplash
Nigeria’s state oil company seeks partners as refinery overhaul accelerates
Read More »

Recent Politics

A public school in Port Harcourt, Nigeria. Photo by Emmanuel Ikwuegbu @ Unsplash
Nigeria shuts schools in northern region as mass kidnappings surge
Read More »
Yaoundé, Cameroon © Unsplash
Cameroon opposition leader Tchiroma flees to Gambia after disputed election
Read More »
Samia Suluhu Hassan, President of Tanzania. Photo @ Samia Suluhu Hassan/Facebook
Samia’s family picks ignite Tanzania nepotism storm
Read More »

Latest Posts

Latest news insights