Exchange rate falls to a record low of N2040/£1 at the black market 

The parallel market exchange rate has experienced a significant decline, plummeting to a record low of N2040 per Great Britain Pound (GBP), driven by persistent demand pressures that continue to erode the currency’s value.  

This marks a notable decrease of 5.39% or N110 compared to the N1,930 rate recorded the previous day. 

This depreciation stands as an unprecedented occurrence, representing the lowest point in the historical performance of the Naira.