Business
Naira plummets to 1655/Dollar as Pounds reach 2040 in parallel market
The Nigerian Naira has taken a significant hit in the currency market, with the dollar soaring to 1655 Naira for selling and 1645 Naira for buying at the black market. Similarly, the pound has surged to 2040 Naira for selling and 2010 Naira for buying.
This sharp depreciation in the Naira’s value against major currencies like the dollar and pound reflects ongoing economic challenges and uncertainties within the country. The widening gap between buying and selling rates indicates heightened volatility and instability in the currency market.
Economic analysts are closely monitoring the situation, emphasizing the need for strategic interventions to address underlying economic issues and restore confidence in the Nigerian economy. However, the current fluctuations underscore the urgency for comprehensive measures to stabilize the currency and mitigate the impact on businesses and consumers alike.
Passengers cheat Death as Enugu Air plane crash-lands at Benin Airport
UK releases updated list of items allowed, forbidden into country
‘Appropriation Act is not above constitution’ — Atiku questions Tinubu over N22.15bn palace projects
Fubara agreed to remove SSG, Chief of Staff in deal with Wike — Robinson Ewor
PDP raises alarm over alleged unauthorised voter registration in Cross River
Biafra group urges US to reject renewal of cultural property deal with Nigeria
Labour Party’s Okereke unveils ‘Nigerians First! Believe Again!’ agenda ahead of 2027
Gas tanker catches fire after speeding over bump in Lagos
Chioma Jesus, Dunsin Oyekan, Frank Edwards, Moses Bliss, others headline Dunamis Mid-Year Worship 2026
Plateau youth leader ambushed after speaking out on community killings
‘We were given only 3 slots while Idoma got 19’ – Tiv group petitions FG, alleges bias in favour of Idoma in Air Force recruitment
