Nigeria's Naira has crashed beyond 40% since Nigeria's new president Bola Tinubu floated a controversial policy to unify the Country's exchange rate.

It is not exactly clear how Mr. Tinubu (whose presidency is currently enmeshed in a legitimacy crisis) intends to actually unify the Country's exchange rate, since Nigeria has not had a trade surplus in decades.


This has led Flour Mills of Nigeria Plc, the West African nation’s biggest miller, to report its first loss in about four years as naira’s depreciation increased the company’s cost of servicing overseas loans.

The Lagos-based company reported a loss of 10.2 billion naira ($13.2 million) in the three months to June 30, compared with a profit of 5.63 billion naira a year ago, according to a regulatory filing. The firm posted a foreign-exchange loss of 22.5 billion naira.

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https://www.bloomberg.com/news/articles/2023-08-29/naira-plunge-pushes-top-nigerian-miller-to-first-loss-since-2019#xj4y7vzkg

Only Obidients are suffering this, we Ebola sufferers patients supporters cannot feel this naira crash 😁

Breaking one bad record every month. That's the new Tinubu slogan