Nigerians React As Naira Crashes To N1k Per Dollar

Nigerians have taken to their social media pages to react as the Naira crashed to N1k per dollar in the Parallel Market, also known as the Black Market on Tuesday.

On Tuesday morning, Abokifx, a website that compiles daily exchange rates from parallel market sources, reported that the dollar was selling at N1,000.

CityMirrorNews gathered that traders were buying a dollar for N990 and selling it for N994. These figures were reported by sources within the Bureau De Change (BDC) industry.

While the central bank’s rate stabilized at N768 per dollar over the past week, the currency has sunk to critical depths for those trying to access it at the parallel market, where most foreign exchange transactions are conducted in Nigeria.

The recent development has left many dismayed as the Naira depreciates considerably against the dollar.

Following the development, Nigerians took to their social media pages to drop their two cents.

Frank wrote: “I’ll hit the ground running on my 100 days in office. Since he illegally Occupied Aso Rock, everything about Nigeria has been crashing.”

Chinedu Philip Onoyima wrote: “You can’t expect anything from someone that doesn’t have. Tinubu doesn’t have anything to give Nigerians. He’s there because it is his turn.”