Sunday, January 21, 2018 7:49:10 PM- Nigerian Stock Exchange.

  Naira almost at 500 to 1 Dollar as Independence day arrives


Sep 29 (Lagos) - The Naira dived deeper today on the parallel market to 480 to 1 US Dollar. It looks like 500 mark will be breached tomorrow going by the speed of the fall.

However the Naira appreciated on the inter-bank market to 305 today. 

The situation is so scary and it is amazing that the government has let it go on for such a long time now. 

The big question is Who supplies the Dollars in the parallel market? Is it the same people who buy it at the inter-bank market or where are the Dollars coming into the parallel market. 

So this Independence day it will be a time to reflect at the state of the economy. When the founding fathers put the constitution in place is this what they had in mind for Nigeria? 

reporting for on Thursday, Sep 29 2016 from Lagos, Nigeria

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