Nigeria’s currency, the Naira, slumped to N1,025 per dollar at Tuesday’s parallel foreign exchange market as forex scarcity worsened.
Ahmed Gazali, a Bureau De Change operator in Wuse Zone 4, confirmed this to DAILY POST on Wednesday.
According to him, the situation in the forex market may worsen if the Federal Government does nothing to halt the crisis.
-Advertisement-
“The scarcity is hard to explain at the moment. The situation is not decreasing. It may worsen if nothing is done. The foreign currency is not available”, he said.
Meanwhile, at the official window, the figures from the FMDQ showed that the Naira fell slightly and closed at N765.83/$ on Tuesday from N765.02/$ on Monday.
READ ALSO: How Tinubu Can Fix Nigeria – Pastor Ashimolowo
FTN reports that on June 14, 2023, the Central Bank of Nigeria directed commercial banks to trade Naira at the forex market freely. Consequently, the country’s currency had been in a freefall.
On Tuesday, the House of Representatives ordered CBN Governor Olayemi Cardoso to devise
We do everything possible to supply quality news and information to all our valuable readers day in, day out and we are committed to keep doing this.
Your kind donation will help our continuous research efforts.
-Advertisement-
-Want to get the news as it breaks?-
