As Nigerian economy continues to go bad, severely hurting the Nigerian people, the country’s currency, the Naira dipped to N1,600 against the dollar on Thursday.
According to one platform for currency monitoring, the Naira plunged to N1,600 per $1 despite efforts by the Central Bank of Nigeria (CBN) to salvage the free fall of the naira.
Though the Naira had been on a downward trend against the dollar before President Tinubu assumed office last May, the Naira’s free fall accelerated following the floating of the currency.