Just In: Naira falls to N1,700 per $1, pound Sterling now N2,100

Spread the news

The naira continued its freefall on Monday, dipping to N1,700 against the dollar and N2,100 to a pound sterling as Nigeria’s economy continues to hurt under President Bola Tinubu’s watch.

This comes as the naira hits an all-time low against the dollar and pound sterling in Nigeria’s history,  despite efforts by the CBN to salvage the free fall of the naira.

Though the naira had been on a downward trend against the dollar before President Tinubu assumed office last May, the naira’s freefall accelerated following the floating of the currency.

In September, the naira exchanged at N1,000 to one dollar at the parallel market, a historic dip that spotlighted the weakness of Mr Tinubu’s efforts to manage the national currency amid runaway inflation.


Leave a Reply

Your email address will not be published. Required fields are marked *