The naira has weakened again at the official market, closing at ₦1,596.1/$ on Friday. With growing pressure on the currency, many fear tougher days ahead.
- Naira fell from ₦1,509.67/$ to ₦1,596.1/$ in one day.
- Dollar demand surged at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
- Central Bank reforms have not fully stabilised the currency.
- NAFEM's daily turnover was $183.77 million on Friday.
- Analysts warn of more inflation and rising living costs.
This fresh slip in the naira is more than just a number — it touches everything, from groceries to school fees. While reforms aimed to stabilise the market, the reality on the ground is a daily battle against higher prices. For many Nigerians, the fear isn't just about today’s exchange rate — it’s what might come next.
Will the Central Bank step in stronger, or will Nigerians have to brace for even more hardship? Keep following for updates.
