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 Business & Finance

September Surrender: Naira Kneels as Dollar, Euro, Pound Dance on Its Weakness

Eriki Joan UgunushebyEriki Joan Ugunushe
September 18, 2025
in Business & Finance
0
October Onslaught: Naira Free-Falls as Dollar, Euro, Pound Tighten the Noose
Share on FacebookShare on TwitterShare on Whatsapp

The Nigerian Naira has been dealt yet another humiliating blow in the black market, as foreign currencies—particularly the Dollar, Euro, and Pound—continue their merciless assault.

As of Thursday,18, the Naira plummeted further against the US Dollar (USD), Euro (EUR), and British Pound (GBP), stirring fresh panic about the worsening chaos in Nigeria’s foreign exchange market.

Table of Contents

Toggle
  • Black Market Exchange Rates That’ll Make You Shudder:
  • Why Is the Naira Constantly on Life Support?
  • Bleak Future Ahead?

Black Market Exchange Rates That’ll Make You Shudder:

Dollar to Naira (USD/NGN)
Buying: ₦1,535| Selling: ₦1,520

Euro to Naira (EUR/NGN)
Buying: ₦1,760| Selling: ₦1,790

Pound to Naira (GBP/NGN)
Buying: ₦2,105| Selling: ₦2,065

These figures, sourced from the parallel market (popularly known as Aboki FX or BDC), paint a grim picture. With demand for foreign currencies soaring and supply drying up, the Naira seems to be fighting a losing battle.

September Surrender: Naira Kneels as Dollar, Euro, Pound Dance on Its Weakness

Why Is the Naira Constantly on Life Support?

This is a full-blown economic crisis with deep, uncomfortable roots:

Interest Rates:
While other countries attract foreign investors with competitive rates, Nigeria struggles with erratic policies that scare off even the most adventurous investors.

Trade Imbalance:
Nigeria imports everything from toothpicks to generators, with little to export. The result? A perpetual deficit that keeps dragging the Naira down.

Foreign Direct Investment (FDI):
Foreign investors aren’t exactly lining up to pour money into a volatile economy riddled with insecurity and poor infrastructure.

Government Policies:
The Central Bank of Nigeria’s ever-changing forex policies only seem to add fuel to the fire. From sudden bans on imports to confusing forex rationing, the Naira has been stuck in policy limbo.

Global Factors:
Oil prices, inflation, and global tensions also play their part—but let’s be honest, the house was already on fire before these external sparks showed up.

Bleak Future Ahead?

Make no mistake, this crisis is far from over. Nigeria’s foreign exchange market is now a ticking time bomb, and every policy misstep or global tremor pushes the Naira closer to freefall.

For millions of Nigerians, this means more than just bad headlines. Food prices, transport fares, school fees, and healthcare costs are already spiraling out of reach. Yet, somehow, the government continues to downplay the crisis, leaving citizens to fend for themselves in a collapsing economy.

Tags: cbnfederal characterFinancegovernmentNewsNigeria
Eriki Joan Ugunushe

Eriki Joan Ugunushe

Eriki Joan Ugunushe is a dedicated news writer and an aspiring entertainment and media lawyer. Graduated from the University of Ibadan, she combines her legal acumen with a passion for writing to craft compelling news stories.Eriki's commitment to effective communication shines through her participation in the Jobberman soft skills training, where she honed her abilities to overcome communication barriers, embrace the email culture, and provide and receive constructive feedback. She has also nurtured her creativity skills, understanding how creativity fosters critical thinking—a valuable asset in both writing and law.

Related Posts

139 Million Nigerians Poor Despite Reforms — World Bank Warns
Business & Finance

139 Million Nigerians Poor Despite Reforms — World Bank Warns

October 8, 2025
October Onslaught: Naira Free-Falls as Dollar, Euro, Pound Tighten the Noose
Business & Finance

October Onslaught: Naira Free-Falls as Dollar, Euro, Pound Tighten the Noose

October 8, 2025
Could 50% EU Tariffs Create the "Biggest Ever Crisis" for UK Steel?
Business & Finance

Could 50% EU Tariffs Create the “Biggest Ever Crisis” for UK Steel?

October 7, 2025
Next Post
Natasha Osawaru Drops Emotional Confession As 2Baba Turns 50

Natasha Osawaru Drops Emotional Confession As 2Baba Turns 50

Movie Review: When Forever Begins – A Forever That Ends Too Quickly

Movie Review: When Forever Begins – A Forever That Ends Too Quickly

Empty Throne: Fubara’s Supporters Abandoned in Port Harcourt

Empty Throne: Fubara’s Supporters Abandoned in Port Harcourt

Leave a Reply Cancel reply

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

Recommended

Benin City Turns Ghost Town Amid Protests

Benin City Turns Ghost Town Amid Protests

1 year ago
Falz Denies Relationship With Bobrisky, Gives Update on Court Case Against VeryDarkMan

Falz Denies Relationship With Bobrisky, Gives Update on Court Case Against VeryDarkMan

4 months ago
Mass Deportation Begin Days Into Trump's Presidency

Mass Deportation Begin Days Into Trump’s Presidency

9 months ago
Bitcoin rises to an all time high of $71,000

Bitcoin rises to an all time high of $71,000

2 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

European Clubs (ECA) Changes Name to ‘European Football Clubs’ and Completes Wide-Ranging Reform

Forged Certificate Scandal: Is this Nigerian Minister’s Resignation Enough for Accountability?

Espionage or Aid Work? The Burkina Faso Junta’s Detention of INSO Staff

Will Macron Dissolve Parliament? France’s Political Deadlock Reaches a Crunch Moment

Billionaire, Record-breaker, Legend—Cristiano Ronaldo is still rewriting history

Offset Opens Up About Cardi B Split, Personal Struggles

Trending

Nigeria Has Become China’s Property
Government

Nigeria Has Become China’s Property

byEriki Joan Ugunushe
October 8, 2025
0

It is embarrassing, really, the so-called Giant of Africa now looks more like a tenant in its...

Is Trump's Chicago Troop Deployment Legal? Illinois Governor Calls It a "Power Grab"

Is Trump’s Chicago Troop Deployment Legal? Illinois Governor Calls It a “Power Grab”

October 8, 2025
Tems Opens Up About Early Career Struggles

Tems Opens Up About Early Career Struggles

October 8, 2025
The European Club Association (ECA), a group of the elite football clubs all over Europe, has ceased to exist

European Clubs (ECA) Changes Name to ‘European Football Clubs’ and Completes Wide-Ranging Reform

October 8, 2025
Forged Certificate Scandal: Is this Nigerian Minister's Resignation Enough for Accountability?

Forged Certificate Scandal: Is this Nigerian Minister’s Resignation Enough for Accountability?

October 8, 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

  • Nigeria Has Become China’s Property
  • Is Trump’s Chicago Troop Deployment Legal? Illinois Governor Calls It a “Power Grab”
  • Tems Opens Up About Early Career Struggles

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