Business
Naira Hits Record Single-Day Drop Against US Dollar
The Naira experienced its largest single-day decline against the US dollar at the official foreign exchange market on Monday, setting a negative tone for the week.
Data from the Central Bank of Nigeria (CBN) showed the currency fell to N1,378.03 per dollar, down from N1,363.39 on Friday. This represents a sharp N14.64 drop, marking the steepest daily depreciation of the year.
In the parallel market, the Naira also weakened, losing N5 to close at N1,380 per dollar, narrowing the gap between official and black-market rates to just N1.97.
The decline follows continued pressure on the Naira after the CBN withdrew dollars from the market last week. According to CBN data, Nigeria’s foreign reserves stood at $49.51 billion as of February 25, 2026.
-
Entertainment2 years agoAdanma Luke Appeals for Forgiveness over Junior Pope’s Death: “I’m Gradually Losing My Life, Please Forgive Me”
-
Security News2 years agoRivers: Tension as Gunmen on Speedboat Abduct Fubara, Police Launch Manhunt
-
Security News2 years agoSoldiers in South East Extort, Humiliate Us While Kidnappers Operate Freely Near Checkpoints, Igbo Women’s Group Alleges
-
Politics2 years agoRevealed: Ajuri Ngelale Fired Over Feud with Onanuga, Despite Medical Cover Story
-
General News2 years agoGov. Soludo Seals Peter Obi’s Campaign Office, Edozie Njoku-Led APGA State Office
-
Security News2 years agoEnugwu-Ukwu in Shock: Deadly Ambush Leaves Multiple Dead, Survivors in Fear
-
General News2 years agoVideo: Moment DSS Staff Erupt in Jubilation as News of Bichi’s Sack Announced
-
Breaking News2 years agoJUST IN: Presidential Adviser Ajuri Ngelale Steps Down Temporarily, Cites Reasons