Index to Nigerian Newspapers

14 days after Daily Trust reported that the naira has been devalued but the story was denied by the Central Bank of Nigeria (CBN), the apex bank on Wednesday announced changes to the Nigerian Foreign Exchange (FX) Market. This has triggered the abolishment of all segments and collapsed into the Investors and Exporters (I&E) Window, thereby confirming what the Daily Trust reported, which it stood by since the report went public and challenged CBN to prove otherwise.

The current move has seen the naira slump to a record low of 29% to N664 per dollar at the close of business in Lagos, according to FMDQ, a local exchange operator, in what is the biggest decline since devaluation in 2016.