Nigerian naira rose in the black market to its highest in more than three months on Friday, after several interventions by the central bank on the official market, traders said. The local currency exchanged N450 to a dollar on the black market at 1327 GMT, compared with 495 the previous day, according to Reuters.

The naira had weakened to around 520 to the dollar on Monday, before the central bank effectively devalued it for retail customers, in an effort to end dollar shortages. The latest improvement is as a result of the new forex policy announced by the Central Bank of Nigeria on Monday (February 20). Since the announcement, forex traders are refusing to buy dollars, pounds and euros as the crash is unpredictable.

And the hesitation to buy is leading to further fall. Analysts believe with the flooding of the forex market with estimated $600 million in one week, dollars may exchange for less than N400 at the end of next week. And if the policy is sustained, the exchange rate will become bearable and may settle nearer N350, if not less.

See More at : http://www.theinfong.com/2017/02/naira-records-shocking-improvement-dollar-see-current-exchange-rate/

Change sweet shaa!
Oya make the fall continue.
Up Nigeria!

Irresponsible policy caused by the same government is now being addressed.

To me, they have not done anything sensible but are only cleaning up the mess they created.

They are like a Yoruba proverb, "Orisa bi o le gbe mi, fi min le bi o se ba mi" i.e "If you cannot improve my standard, leave me the way you met me"

This is a government that irritates me, I always pray they are toppled very soon. The backwardness is too much.

A government that allows essential commodities to become luxury is a very USELESS GOVERNMENT that needs mental checkup.