The BIG Naira Fade
Unbelievable! Really? "The naira has crashed further to its deepest fall, hitting N710/$1 on Wednesday at the parallel market, according to the rates published by exchange rate aggregator Aboki Forex. The N710/$1 rate is a 6.7% crash from the naira’s N670/$1 position on Monday, worsening Nigeria’s inflation that was last pegged at 17.71 by the Nigerian Bureau of Statistics (NBS)."
It overtook Ikoku many years ago. Passed all of Muhammed, Balewa, Wazobia!, Awolowo, Ahmadu Bello and recently Zik. Now, it is going after the duo of Isong and Mai-Bornu (N1,000). O di egwu.
Read Samuel Nwite's piece on the state of Naira.
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