JUST IN!!! Naira Crashes Again, Now N572 To Dollar

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President Muhammadu Buhari
President Muhammadu Buhari
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The naira now exchanges for N572 to a dollar, per rate on Forex trading platform, Aboki Forex.

A thorough check on Thursday morning by 9news Nigeria showed the current parallel market rate pegged at N572 to a dollar. Contacts at the parallel market also confirmed the current rate.

President Muhammadu Buhari
President Muhammadu Buhari

The naira has continued on a volatile trading run despite the efforts of the central bank to protect the currency’s value.

In September, Godwin Emefiele, governor of the Central Bank of Nigeria, clamped down on Aboki FX, a website that updated Nigerians on the open market value of the naira against other currencies.

The website was criticised in a letter from the CBN, which demanded that commercial banks provide transaction records of the website.

The apex bank alleged that the website had breached the National Intelligence Committee Act of 2004.

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About Wisdom Nwedene 11517 Articles
Wisdom Nwedene studied English Language at Ebonyi State University. He is a writer, an editor and has equally interviewed many top Nigerian Politicians and celebrities. For publication of your articles, press statements, contact him via email: nwedenewisdom@gmail.com

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