Tag: $1

CBN sells forex to qualified BDCs at N1,251 to $1, pegs how much BDCs should resell

Bode DoluLeave a Comment on CBN sells forex to qualified BDCs at N1,251 to $1, pegs how much BDCs should resell

In order to further crash the FX rate, Central Bank of Nigeria (CBN) has issued a circular to Bureau De Change (BDC) operators in Nigeria, informing them that $10,000 have been made available to each qualified BDC at a rate of N1,251 per US dollar. The apex bank also reportedly instructed each BDC to sell […]

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Singer Davido expresses fear that Nigerian currency is heading to N1,000 per $1

Bode DoluLeave a Comment on Singer Davido expresses fear that Nigerian currency is heading to N1,000 per $1

Nigerian singer, David Adeleke, popularly known as Davido, has expressed fear of the dollar exchanging for N1k soon. He has a genuine fear because there was a time in Nigeria that American Dollar ($1) was exchanging for Nigeria’s 60kobo (N0.60). In a tweet he shared, the singer averred that there is need for drastic action. […]

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