The Naira continued depreciating against the dollar at the official foreign exchange market on Tuesday after the minister of finance, Wale Edun, was sacked by President Bola Ahmed.
The Central Bank of Nigeria’s data, showed that the Naira weakened further on Tuesday to N1,350.74 against the dollar, down from $1,349.67 as recorded on Monday.
This means that on a day-to-day basis, the Naira falls by N1.07 against the dollar.
Meanwhile, at the black market, the Naira edged the dollar by N5 to N1,425 per dollar from N1,430 traded the previous day.
Newspot reports that the country’s external reserves sustained their decline, falling to $48.54 billion on Monday down from $48.61 billion on 17th April 2026.
Recall that the Nigerian currency slumped across foreign exchange markets on Monday to begin the week.
