Naira Now Exchanges For 300 Naira per Dollar

Naira now exchanges for 300 naira against the United States dollar. This fall has not been recorded for the past 42 years, since Nigeria started using the naira as her international currency.
Monday’s stoppage of foreign exchange sales to Bureau De Change operators by the Central Bank of Nigeria failed to lift the naira on Tuesday as the currency exchanged for 300 against the United States dollar in Kano, 290 in Lagos and 292 in Abuja.
Financial experts said the naira would decline further, while private sector operators described the move as a welcome development.