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

Oil refinery. Photo by Devon Chandler @ Pixabay
Cameroon opens nine oil and gas blocks to global investors
Read More »
Copper mine. Photo by Jandira Sonnendeck @ Unsplash
Congo’s Kamoa-Kakula Copper Complex boosts Ivanhoe profit to $228mn
Read More »
Makkala nguzu Market, Choma, Zambia. Photo by Seiko Yamada @ Unsplash
Zambia secures multi-billion-dollar UAE investment talks to boost energy sector
Read More »

Recent Politics

A cheerful Kenyan citizen at a public celebration. Photo: @ William Ruto/Facebook
Why is Kenya on full campaign mode one year to 2027 elections?
Read More »
Port Harcourt, Nigeria. Photo by Emmanuel Ikwuegbu @ Unsplash
Why are Nigerians protesting electoral reforms ahead of 2027 polls?
Read More »
Kenya's ODM split over age, factions and 2027 political strategy. Photo @ The ODM Party/Facebook
Kenya’s ODM in turmoil: Sifuna ouster exposes rift over Ruto alliance
Read More »

Latest Posts

Latest news insights