Amid the myriad of economic headaches Nigeria is going through, the nation’s currency, naira has strengthened against the American dollar in the black market, NAIJ.com can authoritatively report. According to our Bureau De Change source in Katsina, the naira has gained strength and trades at N345/$1 today, June 2, as against the N347/$1 rate on Wednesday, June 1.

Our Katsina based BDC source said: “The naira is selling for 345 to a dollar in the black market. This is welcomed development knowing fully well that just yesterday it traded at N347/$1. “Although, I can’t tell if the naira will continue to stay strong because the rate has been very inconsistent in recent times.”


The Nigerian currency had started last week on a convincing note at N340/$1. It strengthened further against the greenback on Tuesday, May 24, before crashing on Wednesday, May 25 to N342/$1 and N345/$1 subsequently on Thursday, Friday. It started the new week at N347/$1 and had remained the same until today. Meanwhile, the CBN is ready to roll out details of the new flexible exchange rate policy, which is a monetary system that allows the exchange rate to be determined by supply and demand; the nation’s currency naira is still pegged at the official exchange rate regime of N197/dollar, despite the currency switching to N285 to a dollar at the interbank market. However, the implication of the flexible exchange rate policy is that with a high demand for the dollar in Nigeria, there is every likelihood that the naira will experience a further decline in the coming months. You can check out NAIJ.com’s bureau de change ‘market’ here for the best rates on foreign exchange.

Source: https://www.naij.com/847789-goodnews-naira-strengthens-dollar-checkout-new-rate-2.html

Chaos everywhere

Abeg cefa nko

Na dis wan una dey call apreciate? mtcheeew! I be tink say e don cum daun 2 #280

Lol... 2naira is still somtin

Those whose line of business attracts foreign currency inflow are in good season.

Pavore9:
Those whose line of business attracts foreign currency inflow are in good season.

I think so

tolexy111:
I think so

Export of goods and services is the best bet with the depreciation of the Naira.

Pavore9:


Export of goods and services is the best bet with the depreciation of the Naira.

true that

OP. Stop this your stvpidity with these your false alarms.