Under President Muhammadu Buhari’s administration, the naira has plunged to yet another all-time low, trading at 800 to the dollar at Aboki Forex, a secondary exchange site.
According to reports on Saturday, the exchange rate on the black market is currently N890 to the British pound and N800 to the dollar.
The naira, which has been steadily losing value, exchanged at 785 to the dollar, according to a previous report from Vam News.
The free fall continues as the ban on Bureau the Change operators remain in place and the Mr Buhari regime announced plans to redesign the country’s currency in response to the country’s economic woes.
Earlier on the governor of the central bank of Nigeria, Godwin Emefiele, announced on Wednesday that new naira notes would be issued by December 15.
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