Lagos, Nigeria – E be like say naira don catch serious wahala as e dey fall waka for foreign exchange markets. Last Wednesday, Naira dey weaken small-small, and dem say e don drop by 0.3 percent, dollar na N1,438.49. Na so e be for Tuesday, e dey N1,433.65. Make we no talk about black market, naira sef lose N20, come stand at N1,460 per dollar. Shey na everybody go just dey look this currency dey depreciate like sey e wan fly?
The Central Bank of Nigeria (CBN) talk say since Wednesday, foreign exchange market no dey sweet as liquidity don dey drop and dollar demand don dey rise. Even though naira dey juggle with pressure, Nigeria external reserves dey shine – e don reach $43.27 billion as at November 4, 2025. Na for this matter we dey see say abroad dey still dey gree give us jara!
Before dem go begin dey talk say na market wahala dey cause all this gbege, last week no too soft for naira. FX inflows through the Nigerian Foreign Exchange Market don drop from $1.37 billion to $1.04 billion. According to report wey Coronation Merchant Bank release, na foreign portfolio investors (FPIs) dey collect 62.3 percent ($645.40 million) of all dis money we dey enter. E be like say na dem dey shine pass, while exporters and non-bank corporates dey fight for second.
Monday don waka come with plenty drama too. Currency don fall by 1.0 percent after former U.S. President Donald Trump don talk plenty matter wey affect Nigeria. Ayokunle Olubunmi, wey head Financial Institutions Ratings for Agusto & Co. talk say na Trump mouth wey disrupt wetin dey happen for market, ‘Na true, this Trump wahala don affect bond market and naira too.’ No o, na correct talk, as market wey dey sensitive no fit carry this type of talk from Trump like small pikin carry heavy load.
But Olubunmi dey optimistic say all dis gbege go settle down soon. E said, ‘Make we no fear too much, because na Trump style be dis. E dey talk him strong strong statement wey dey shake ground, but later e go calm down again after everybody don panic.’ He go continue to talk am say dis type of drama no dey last too long for market, so we fit relax small.
As Tuesday come, naira try make small recovery, but Wednesday matter don come back to square one as liquidity still dey drop and dollar dey shine bright. Wetin fit happen next? Time go tell, but dem suppose alert we about di hustle wey go come if dollar no gree rest.
So, padi, make you dey watch your wallet, e be like say naira dey turn to fireworks. Just dey sip palm wine, and wait make matter unfold, true true. No say na only we dey suffer dis matter, na big people dey watch as we dey navigate this currency shakara!
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