Skip to content
Subscriber Only

Nigerian Central Bank Devalues Naira by 5.3% at Currency Auction

  • Weakening comes amid plans to unify multiple exchange rates
  • Investors, IMF have urged single rate to improve transparency
Nigerian Markets As Government Presents Ambitious Spending Plan
Photographer: KC Nwakalor/Bloomberg

Sign up to our Next Africa newsletter and follow Bloomberg Africa on Twitter

Nigeria’s central bank devalued the naira at one of its currency auctions, according to people familiar with the matter.