Nigerians React To Naira Historic Fall As 1,000 Crashes To One Dollar

Nigerians have taken to social media to react to the historic fall of Nigeria’s currency value, Naira, on Tuesday after it exchanged at ₦1,000 to the United States dollar at the parallel market.

Naija News reports that the exchange rate for a dollar to Naira at Lagos Parallel Market (Black Market) players buy a dollar for N990 and sell at N994 on Tuesday, 26th September 2023, according to sources at Bureau De Change (BDC).

However, at Abokifx, a website aggregating daily rates for Nigerians using parallel market sources, the dollar sold at ₦1,000 on Tuesday morning.

While the central bank’s rate stabilised 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.

How Nigerians Reacted

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.”