Naira Unchanged In Black Market On March 1, 2023 After Tinubu’s Victory

The naira remained unchanged in the black market today, Monday, March 1 2023 a significant day in Nigeria’s political economy when a new president emerged after Asiwaju Bola Tinubu was announced as president-elect.

GWG.ng reports that the naira exchanged at 760 to the dollar, the same value it changed the day before, February 28, 2023.

While many looked at March 1, 2023 as the first day of trading in the third month of the year, for many others, the exchange value of the naira for the dollar in the black market was significant as it was a day that Tinubu was announced as president -elect.

Given his background as an accountant and what some consider as his pro-business background there is expectation in some circles that his emergence could mean well for business.

Tinubu’s pro-business background will be enhanced by the emergence of a former top banker, Senator Kashim Shettima as vice-president. The former Zenith Bank top executive is expected to help galvanise the future administration’s economic policies in a way to win the confidence of the local and international business communities.

There have been reports that following the pointers to the emergence of victory for Tinubu in the election that interests in Nigeria’s bonds may have picked up.

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