Currency and bonds are in turmoil after Trump threatens military action against Nigeria

Bonds incurred The Nigerian dollar-denominated dollar suffered the largest losses in emerging markets, on Monday, after US President Donald Trump threatened military action in the country if its government did not stop what he described as… "Killings of Christians by extremists."

Decreased Nigeria’s currency, the naira, rose 1.2% to 1,442.80 against the dollar, its biggest daily decline since June. This was also the largest loss for emerging market currencies during the day.

Trump said in a post on the website "Truth Social" On Saturday, he issued his instructions to the Pentagon "By preparing for potential action"threatening to immediately cut off aid to Nigeria, a member of the OPECwhich is the most populous country in Africa.

On the other hand, Nigerian President, Bola Tinubu, rejected Trump’s threats, saying that he ignores "Continuous and sincere efforts by the government to protect freedom of religion and belief for all Nigerians".

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