The naira plunged further against the United States dollar to a new record low of 480 on Thursday, down from 472 it recorded on Wednesday.

The currency had continued its two-week free fall on Monday, closing at 445 to the dollar after tumbling to 439 on Friday.

On Tuesday, the currency closed at 452 to the greenback. Also on Tuesday, the external reserves hit an 11-year low of $24.61bn.

“Dollar is very scarce in the market right now because many people don’t know how low it will fall in the near term, so people are holding on to their hard currencies in order to watch the direction of the market,” one dealer said.


More on... http://punchng.com/naira-free-fall-plunges-480dollar/

Festus commentus,wow we are falling down down and down into our oil well.

Lord have mercy upon us. ..
My buying power has been halved within a year.

Day169:
Lord have mercy upon us. ..
My buying power has been halved within a year.

Earn dollars and you wouldn't worry.

That one concern the naira sha. Make I continue to dey earn in dollars. If e want, make e reach #1000/$1. Not overtly bothered.

Lalasticlala, Dominique.

motherfucker:
Earn dollars and you wouldn't worry.

Even if u earn dollar and get rich but driving everyday and seeing people around you suffering from it will make you worry except you are as Heartless as a Nigeria Politician. I just don't earn Foriegn currency, I earn it in pounds but I still need the Purchasing power of my beloved Naira to be good. Why? Because I am a Nigerian and I love my country. So let's not celebrate this because Nigerians are suffering as a result of it.

Here at Onitsha... Filling stations re locked out.. no fuel.. Hike in fare.. God help us

Stelvin101:


Even if u earn dollar and get rich but driving everyday and seeing people around you suffering from it will make you worry except you are as Heartless as a Nigeria Politician. I just don't earn Foriegn currency, I earn it in pounds but I still need the Purchasing power of my beloved Naira to be good. Why? Because I am a Nigerian

agreed but I have grown to understand that I can't save the world.

I used to think of everyone and how I can help but you see, Nigerians have one funny attitude and since then, I have learned not to give a fork about the next person. I still render help when I can but not like I used to.

Come and protest, zero.

Elect someone who has no link to a God father, zero

Kick against the politicians and eject them, zero

But a man will steal Maggi in the market, they will behead him, burn him alive. To replicate same measure on politicians, zero.

When Nigerians are ready, I will care. Until then, we should all be in the problem we created for ourselves.