The Nigerian naira experienced a significant decline in value, losing N64.5 against the US dollar in the foreign exchange market.
According to FMDQ data, the naira depreciated to N1,234.49 per US dollar on Monday, down from N1,169.99 on Friday.
This marks a continued downward trend, as the naira also fell to N1,169.99 per dollar on Friday from N1,154.08 on Thursday.
The parallel forex market saw a similar decline, with the naira falling to N1,200 per dollar on Monday from N1,100 on Friday.
This development comes after the naira experienced three consecutive days of depreciation last week, following a period of gains.
The Court of Appeal in Makurdi, Benue State, on Thursday dismissed an appeal filed by…
Big Brother Naija Season 7 winner, Josephine Ijeoma Otabor, also known as Phyna, has publicly…
Nigerian singer Yemi Alade has criticized prominent media outlets Cool FM and Clout Africa, accusing…
Senator Adamu Aliero, representing Kebbi Central, has announced that the Nigerian military successfully expelled the…
The Supreme Court has struck down the National Lottery Act of 2005, ruling that the…
As Nigerians express their frustrations over the recent fuel price hikes by the Nigerian National…