Nigerian Naira continues free fall against US dollar amid CBN inaction

The Nigerian naira connected Tuesday continued its escaped autumn against the dollar crossed authoritative and parallel overseas speech markets connected Tuesday amid inaction by the Central Bank of Nigeria.

CBN information showed that it depreciated connected Tuesday to N1,384.29 per dollar, down from N1,378.0246 connected Monday.

This means that connected a day-to-day basis, the Naira dipped by N6.26 against the dollar.

Similarly, astatine the achromatic market, the Naira dropped by N10 to N1390 per dollar connected Tuesday from N1380 traded connected Monday.

DAILY POST reports that the disparity betwixt some overseas speech markets stood astatine N5.71 per dollar arsenic of Tuesday.

In much than 8 days now, the naira has sustained depreciation against the dollar aft the apex slope mopped up dollars from the market.

This comes contempt the continued surge of the country’s outer reserves, which stood astatine $49.69 cardinal arsenic of February 27, 2026.

Recall that connected Tuesday, President Bola Tinubu nominated Taiwo Oyedele, erstwhile of the Presi...