There is no respite yet for the nation’s currency as the naira recorded the biggest fall in recent times exchanging for N1,105 at the Nigerian…

There is no respite yet for the nation’s currency as the naira recorded the biggest fall in recent times exchanging for N1,105 at the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Central Bank of Nigeria (CBN) approved official market.

The currency depreciated by over N200 within hours after it opened earlier in the day at N830. However, the fall would not last as the currency bounced back, closing at 841.14 yesterday.

According to Reuters, the sharp depreciation of the currency yesterday brought “The official exchange rate within touching distance of the parallel market rate.”

At the parallel market, Daily Trust reports that dollars opened at N1,135 and closed at N1,150 to N1,200.

One of the Bureau De Change (BDC) operators at a popular market in Lagos, Alhaji Hassan Sabo said, “Today we are buying at N1,100 and selling at N1,150.”

Asked on the prospect of the rate dropping, he said, “It cannot come down like that because the dollar is not available, some are not even selling at the rates I just gave you. It might even go up tomorrow.”

A capital market analyst, Samuel Showunmi said the government should return to multiple exchange rates to push the dollars into the market through the BDC.

“What we are seeing now with the banks is currency racketeering within the banking sector as well,” he said.

https://dailytrust.com/dollar-hits-1105-at-official-market/

Nigeria is going down under Tinubu

illiterate government and their illiterate policies, what do you expect from people who Forged certificates

Yoruba people in connection with Hausa fulanis really want to destroy this country for good, since 1960 till today nothing is working, and the shameless people no even get shame at all. Na this front and backward the zoo go remain until we break up this country and Every tribe starts answering their papa names. Illiterate people controlling the economy and security of this country, what do you expect. FAILURE

borrowing money to stabilize the Dollar, is this not the height of foolishness?

Ok

sell those refineries and give licenses for more modular refineries and in six months, the dollar will be on its knees, we will be exporting finished products and racking in the dollar on daily basis, very foolish president and his stupid cabinets

kk

oyichi:
sell those refineries and give licenses for more modular refineries and in six months, the dollar will be on its knees, we will be exporting finished products and racking in the dollar on daily basis, very foolish president and his stupid cabinets

If he does that, how would he steal money like all his predecessors?
NNPC and the refineries are the major conduits for siphoning Nigeria's money.

And NO, he is not foolish and his cabinets are not stupid.
They are just sociopaths, like Buhari and others before him.

That is why they rigged Peter Obi out.
For someone like Obi to win presidential election in Nigeria, a coup or a revolution must happen first.
Painful truth.

Tinubu with his patch patch CV CBN governor have wrecked this country

oyichi:
sell those refineries and give licenses for more modular refineries and in six months, the dollar will be on its knees, we will be exporting finished products and racking in the dollar on daily basis, very foolish president and his stupid cabinets

We have been advising this but the leaders are hell bent to destroying the country and frustrating the citizens.

Many Nigeria citizens are very docile and hungry, weak beings that can't think with their brains

K

Testing waters. They have sold this country to themselves. They hoard dollars in their abandoned homes, and also hoard it in places like binance and FX markets. Yet, they want everyone to understand them, that it takes time to rebuild the economy.
Nigerians, brace up, it may just be the beginning. Instead of lamenting and waiting for government to help your life which will never happen, go learn basic things that can give you dollars even if it takes 5 years to come to light. No one cares about you. No one at all, you die, you die.

Forget labour leaders, they are all selfish. Everyone is fighting for his or her own pocket. The so called normal harrasment Nigerian get from area boys and police on daily basis, is what took NLC president outside the country to treat and run x-rays. On whose financial burdens? Forget ..
If country collapse they escape, you are left to ruin. The country is totally down financially. They have over collected loans that are tied together in bonds. It will take tens of years to clear , with huge interest, yet being relooted. The oil is not much attractive again, they even sold the oil that has never been extracted, collected the money upfront in the name of oil swap. Nothing is bringing revenue to the government purse to cover all these atrocities. The government is totally confused.. it will take tens of years to restructure this country, financially, economically but with this crops of kleptomaniac politicians, it won't just happen. That's the reality.
What am I even saying self?

Next bus stop.....1500

This one no get change o, enter with your change

That's too high o.

Una never see anything yet oo, this is what you get when f00ls votes idi0ts and useless INEC help them add up numbers to become president.

Hehehe .

I just pity the one's whose job is to defend this present government. The work is so difficult.

I know some people are still shouting,"I stand with this government" out of shame. It's well, continue standing until your leg break .

Elections are over oh, speak up now because we are now in this unfortunate situation together.
Both wailers and hailers are in this together.

Free fall

Is it dropping or going up

And it all falls down... Keri Hilson

Sad

This ship has sank

Vintage42:
lol. Fraud employ Fraud

It's a tragedy