According to statistics from the Central Bank of Nigeria, the value of the currency fell against the dollar on both the official and unoff...
According to statistics from the Central Bank of Nigeria, the value of the currency fell against the dollar on both the official and unofficial foreign exchange markets.
The value of the Naira has gone down against the US Dollar on Monday.
According to statistics from the Central Bank of Nigeria, the value of the currency fell against the dollar on both the official and unofficial foreign exchange markets.
On Friday, the Naira was worth N1,465.68, but on Monday, it was worth N1,470.26.
In other words, the Naira lost N4.58 per dollar on Monday compared to last Friday, when it was worth N1,465.68.
In the same way, the Naira fell to N1,505 per dollar on the black market on Monday, down from N1,495 at the end of business last Friday.
The drop was caused by more people wanting to swap money at the bureau de change.
Remember that the Naira lost value against the Dollar on Friday as well.
This is happening even though Nigeria's foreign exchange stocks kept going up and reached $42.44 billion on October 3, 2025.