Naira crashes again, now N572 to dollar
The naira now exchanges for N572 to a dollar, per rate on Forex trading platform, Aboki Forex.
Checks by Peoples Gazette on Thursday morning showed the current parallel market rate pegged at N572 to a dollar. Contacts at the parallel market also confirmed the current rate.
In the last week of November, The Gazette reported the naira’s slide at the parallel market as it exchanged at N565 to a dollar a week after trading for N545 to a dollar.
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.
In July, The Gazette had reported CBN ban on foreign exchange sales to bureaux de change and an indefinite suspension issuance of licences to money changers.
The apex bank had instructed banks to set up teller points in branches to make dollars and other foreign currencies available to Nigerians.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
World
Moderna begins Bundibugyo Ebola vaccine trial
The trial marks a significant step in efforts to develop a vaccine against the virus driving the ongoing Ebola outbreak in the DRC.
States
Adamawa govt, NEMA begin flood awareness campaign in Yola
Ms Laori said the exercise targets communities and local governments identified as highly susceptible to flooding during the rainy season.
Economy
Nigeria courts U.S. solid minerals investors
The Minister of Solid Minerals Development, Dele Alake, led a delegation to the U.S. to advance collaboration across the solid minerals value chain.
States
FG inaugurates renewable energy college in Kogi
The president said the college was built as a vocational and technical institution to close the gap in Africa’s energy transition.
NationWide
NFF unveils Africa’s first wheelchair-fencing academy
Mr Cootes expressed excitement at bringing the impact to Africa for the first time.
States
Osun Poll: Gov. Adeleke’s campaign council petitions NHRC over alleged police intimidation
The Council spokesperson, Pelumi Olajengbesi, decried Mr Alabama’s arrest as unlawful.
