Federal Character
  • Home
  • News
  • Politics
  • Business & Finance
  • Entertainment
  • Sports
  • Tech
  • Relationship and Life
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
  • Opinion
No Result
View All Result
  • Home
  • News
  • Politics
  • Business & Finance
  • Entertainment
  • Sports
  • Tech
  • Relationship and Life
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
  • Opinion
No Result
View All Result
Federal Character
No Result
View All Result
Home News

Naira Collapses To Record Low As Tinubu Takes Over

Taiwo CokerbyTaiwo Coker
May 19, 2023
in News
0
Naira Collapses To Record Low As Tinubu Takes Over
Share on FacebookShare on TwitterShare on Whatsapp

If you are wondering why the Nation’s apex bank allowed the currency to plummet by the most in the past few months and right about Tinubu’s time to become president, you are not alone.

Before screaming conspiracy, you should first check what the exchange rate is today and has been for the past five months. 

The naira fell to a record 465.07 to a dollar as of 1.11 p.m. local time, which is the biggest drop since December 29th. 

In the past three days, the naira has crashed twice to a record level. 

Tinubu has his work cut out for him… His pledge of ending the practice of maintaining multiple exchange rates will face a serious challenge from the tightly controlled Black Market scallywags that President Buhari and his wife dined and wined with throughout his government. 

It is being predicted that the naira could weaken as much as 15% after Tinubu becomes president, Nikolaus Geromont, who is a fixed-income analyst at Johannesburg-based Absa Group Ltd., claimed in his research note on Wednesday. 

“We expect the naira to be upwardly adjusted to 530/USD after the presidential inauguration. 

Ok… so this is it – a part of what these so-called experts are claiming is that a weaker naira will help Nigeria cut trade imbalances and reduce the pressure on our foreign reserve. 

What foreign reserve? Will we still have any after what Buhari and his goons have left – considering all that has transpired in the last eight years? Today our foreign reserves are at a two-year low of $35.3 billion… Which is just enough to pay for 5.5 months of imports, according to Lagos-based FBNQUEST Capital. 

Hello, Mr. Peter Obi…. don’t you think you might have dodged a bullet here? 

Tags: naira colllapsesPresident of niheriatinubu
Taiwo Coker

Taiwo Coker

Taiwo Coker is a well respected voice in the news and media space. He has been featured and published in many online and print media and his works transcends the borders of Nigeria. He is a graduate of Mass Communication from the University of Lagos and had worked non-stop on his passion and ambition ever since then. He likes to travel and explore the world and this is how he gets his inspiration to create amazing news and articles that touch people across the globe.

Related Posts

US Troops on Standby In Anticioation of Massive, Coordinated Anti-Trump Protests
News

US Troops on Standby In Anticipation of Massive, Coordinated Anti-Trump Protests

October 18, 2025
Blood Spills in Peru as Gen Z Fights a Broken System
News

Blood Spills in Peru as Gen Z Fights a Broken System

October 22, 2025
What is the Daily Cost of a US Government Shutdown to the Economy?
News

What is the Daily Cost of a US Government Shutdown to the Economy?

October 15, 2025
Next Post
Real Madrid football club might be in a quagmire this summer with the number of expiring contracts they have to sort out.

Real Madrid football club might be in a quagmire this summer with the number of expiring contracts they have to sort out.

Zelenskyy To Address G7 Summit Sunday To Ask For More Weapons.

Zelenskyy To Address G7 Summit Sunday To Ask For More Weapons.

Sudanese politician Burhan dismisses militia leader as deputy prime minister

Sudanese politician Burhan dismisses militia leader as deputy prime minister

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

The Nine Steps to Impeaching a Nigerian President

The Nine Steps to Impeaching a Nigerian President

3 years ago
Israeli Soldier Killed in Lebanon as Hezbollah Clash Escalates

Israeli Soldier Killed in Lebanon as Hezbollah Clash Escalates

1 year ago
Davido Sets the Record Straight on His Upbringing Amid Wizkid’s Jabs

Davido Sets the Record Straight on His Upbringing Amid Wizkid’s Jabs

1 year ago
Mavins Record To Release New Music On The 13th Of May.

Mavins Record To Release New Music On The 13th Of May.

3 years ago

Categories

  • Beauty
  • Business & Finance
  • Entertainment
  • Fashion & Lifestyle
  • Food & Nutrition
  • Government
  • Health
  • News
  • Politics
  • Relationship and Life
  • Sports
  • Tech

Topics

2023 Aboki/Bureau De Change (BDC) apc Arsenal buhari Business cbn chelsea china court Davido Dollar Efcc Election Entertainment Euro and Pounds To Naira Exchange Rate For Today exchange rates for the Nigerian Naira (NGN) Fashion federal character federal government Finance food Football Foreign News government health inec Israel lagos Manchester United Naira Naira Black Market exchange rates News Nigeria pdp police Politics president protest Russia Sports tinubu trump ukraine US
No Result
View All Result

Highlights

Sarkozy Gets VIP Treatment in Jail as Police Guard His Cell

Nigeria Bets $220 Million on Jobs While Youths Still Wait for Work

Baltimore’s Mayor’s Wife Faces Investigation

Should Mayor Brandon Scott Resign?

Sowore Condemns Police “Brutality,” Gives Update on Kanu’s Lawyer and Brother After Prison Visit

Offensive Texts Sink Trump’s Court Nominee, Forcing Sudden Withdrawal

Trending

Osimhen Scores Twice as Galatasaray Win 3-1 Away Against Bodo/Glimt in Champions League
Sports

Osimhen Scores Twice as Galatasaray Win 3-1 Away Against Bodo/Glimt in Champions League

byHashim Kolawole
October 22, 2025
0

Victor Osimhen’s amazing two-goal performance led Galatasaray to an outstanding 3-1 victory over Bodo/Glimt in the UEFA...

The Internet Declared Kendall Jenner's 'King Kylie' Outfit a 'Fail.' Here's Why They're Right

The Internet Declared Kendall Jenner’s ‘King Kylie’ Outfit a ‘Fail.’ Here’s Why They’re Right

October 22, 2025
Nigeria Bans Sex with Minors but Ignores Muslim Marriages to Minors

Nigeria Bans Sex with Minors but Ignores Muslim Marriages to Minors

October 22, 2025
Sarkozy Gets VIP Treatment in Jail as Police Guard His Cell

Sarkozy Gets VIP Treatment in Jail as Police Guard His Cell

October 22, 2025
Nigeria Bets $220 Million on Jobs While Youths Still Wait for Work

Nigeria Bets $220 Million on Jobs While Youths Still Wait for Work

October 22, 2025

We launched Federal Character in February 2021 based on the belief that the world is in need of smarter and more efficient reporting of events shaping our rapidly changing world. We pledged to put our audience first, always.

Recent News

  • Osimhen Scores Twice as Galatasaray Win 3-1 Away Against Bodo/Glimt in Champions League
  • The Internet Declared Kendall Jenner’s ‘King Kylie’ Outfit a ‘Fail.’ Here’s Why They’re Right
  • Nigeria Bans Sex with Minors but Ignores Muslim Marriages to Minors

Categories

  • Beauty
  • Business & Finance
  • Entertainment
  • Fashion & Lifestyle
  • Food & Nutrition
  • Government
  • Health
  • News
  • Politics
  • Relationship and Life
  • Sports
  • Tech

© 2024 FederalCharacter.com

No Result
View All Result
  • Home
  • News
  • Politics
  • Business & Finance
  • Entertainment
  • Sports
  • Tech
  • Relationship and Life
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
  • Opinion

© 2024 Federalcharacter.com