The downturn followed an already poor year for tech companies, which were among the top gainers during the pandemic’s early phases.
The bank stated in a memo titled ‘Important Update on FX’ and sent to customers on Thursday that processing of payment of school fees abroad will now take at least 60 days.
Elon Musk has given Twitter staff a 5:00 p.m. (Eastern time Thursday) deadline to decide if they want to work for him or quit their positions.
The new figure is an increase from the 20.77 per cent figure recorded in September.
“I’m going to privatise our crude oil refineries and make Nigeria the hub of crude oil refining in Africa,” stated Mr Abubakar.
The one-year-old startup said it held its assets (cash and stablecoins) at the now-defunct crypto exchange to manage operational expenses.
Nigerians who substantially invested in FXT, especially those in rural areas, will lose their savings as a result of this occurrence.
Mele Kyari, the group’s managing director, said that the NNPC could no longer keep up with the N170 per litre pump price of fuel.
The local currency had last weekend plunged to a historic low of N890 per dollar.
The Nigerian naira and Ghana’s cedi have been ranked as the world’s two worst-performing currencies.
