Nigeria's naira hit a record low of 1,100 per dollar on the black market on Wednesday, online platform abokiFX showed, a day after the currency hit a new low on the official market due to persistent dollar shortages.
The naira has been in freefall on the unofficial market, where it trades freely, which worsened after currency restrictions were lifted on the official market.
source No offense - but not very unexpected news. The direction towards “de-dollarization of the economy”, adopted unexpectedly, and having become a victim of the populism of some countries/politicians, is highly likely to lead to such a result. Drawing BRICS and de-dollarization, and essentially into the yuanization of the economy, is the path to the global economic bottom... The Nigerian government should think about whether they are choosing the right “friends”, and what this friendship will mean for them... The main thing is not to pass the point of no return, maybe there is still time for positive changes