JUST IN: NAIRA CRASHES TO N2,000/1£ AT PARALLEL MARKET
Nigeria’s indigenous currency is currently trading at a premium of over 2,000 naira against the British pound on the black market, amidst the current hardships plaguing the nation.
On Monday, Malam Ibrahim, a Bureau de Change operator in Wuse Zone 4, verified the prices.
He said, “Yes, it is true; we are currently selling above N2,000 for the pounds and it is still about the heavy and consistent demand for these currencies.”
According to PUNCH, the new rate increased from N1,930 recorded on Saturday and is currently the lowest point in the historical performance of the naira.
Similarly, the naira depreciated against the dollar in the parallel forex market, where forex is unofficially trading at N1,673 from N1,670/$ as of Friday, February 16.
More Stories
POLICE FOIL KIDNAP ATTEMPT ON KADUNA-ABUJA HIGHWAY, ARREST THREE SUSPECTS
The Kaduna State Police Command said it arrested three members of a notorious kidnapping syndicate terrorising the Kaduna-Abuja highway and...
GUNMEN KILL POLICE INSPECTOR, ABDUCT TWO CHINESE NATIONALS IN CROSS RIVER
Unknown gunmen, on Thursday evening, reportedly shot and killed an Inspector of Police and also abducted two Chinese nationals in...
JUST IN: NIGERIA’S WIZKID, BURNA BOY, DAVIDO, TEMS NOMINATED FOR 2025 GRAMMY AWARDS (FULL LIST)
The 2025 Grammy nominations have been revealed, presenting a star-studded lineup of artists, albums, and songs competing for honours at...
EFCC NABS TWO CHINESE, OTHERS OVER ILLEGAL SOLID MINERAL EXPORT
The Enugu Zonal Directorate of the Economic and Financial Crimes Commission, said it operatives arrested two Chinese nationals, Wang Jiang...
PREROGATIVE OF MERCY: SANWO-OLU APPROVES RELEASE OF 55 INMATES
Based on the recommendations of the Advisory Council on Prerogative of Mercy, Governor Babajide Sanwo-Olu has approved the release of...
RIVERS HELICOPTER CRASH: BLACK BOX FOUND, SEARCH FOR THREE MISSING STILL ON
The black box, flight data recorder (FDR), or cockpit voice recorder (CVR) of the Sikorsky SK76 helicopter have been recovered,...