Brands and Marketing
BREAKING: Dollar Hits Over N600 To Naira
BREAKING: Dollar Hits Over N600 To Naira
Onyxnewsng gathered that the Nigerian currency now exchanges at N610 to the dollar at the parallel market, known as the Black market for the first time in history.
Although the naira’s official rate eventually stabilised at 419.02 at the Investors and Exporters window, after several dips on Friday, the value of the currency has sunk to greater depths at the parallel market.
According to Aboki Forex, a website that furnishes the Nigerian audience with the exchange rate of foreign currencies at the parallel market, the dollar sold at N610 on Sunday morning.
Aboki Forex gained prominence shortly after a similar website, Aboki FX got axed by Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), for allegedly manipulating the exchange rate at the parallel market.
Aboki FX’s shutdown in September 2021 has so far done nothing to stop the naira’s free fall and steep crashing at the parallel market.
JUST IN: CBN Governor, Godwin Emefiele Drags INEC, AGF, To Court, See Why
Critics claim Mr Emefiele’s 2023 presidential ambition has distracted him from functioning efficiently as Nigeria’s top banker and have repeatedly demanded his resignation.
The naira has continued to depreciate considerably against the dollar over the past two weeks. From N588 per dollar on May 8, it opened at N610 on Sunday morning, according to Aboki Forex.
-
Headline1 week ago
BREAKING: Kogi Assembly Demand Immediate Removal Of Yahaya Bello’s Name From ‘Wanted List’ By EFCC
-
Headline1 week ago
BREAKING: Famous Nigerian Senator Is Dead
-
Entertainment1 week ago
My Kind Of Music Is Afrofusion – Davido Denounces Afrobeats
-
Headline1 week ago
LALIGA: Xavi Makes U-turn, Decides To Stay In Barcelona Next Season
-
Headline1 week ago
JUST IN: EFCC Begging Ex-Kogi Governor, Yahaya Bello — Lawyer Reveals
-
Entertainment7 days ago
My Family Distribute Electricity To Most Of Nigeria – Davido Claims
-
Headline7 days ago
BREAKING: Sierra Leone Minister Of Power, Sesay Resigns
-
Headline5 days ago
Finidi George Appointed As Super Eagles New Manager
-
Entertainment4 days ago
I Revived Your Dead Career With ‘Buga’- Kiss Daniel Blasts Tekno
-
Entertainment1 week ago
BREAKING: Iranian Rapper, Salehi Sentenced To Death For Backing Anti-hijab Movement