Just like many Nigerians filmmaker, Ugezu Ugezu has reacted to the shocking rate of the Naira to Dollar exchange in the parallel market. As of today, the Dollar to Naira exchange is at N523 to $1.
Sharing his opinion about this development, Ugezu said the country has been destroyed. He predicted that by December this year, the Dollar to Naira exchange will be at N900 to $1. See his post below
In other news, the Central Bank of Nigeria (CBN) has directed Deposit Money Banks (DMBs) to set up teller points in designated branches for the sale of foreign exchange to meet legitimate forex requests of their customers.
This is coming after the apex bank announced that it will discontinue the sale of dollars to the Bureau De Change (BDC) operators.
The directive is contained in a memo by the CBN to the deposit money banks and signed by the Director, Bank Supervision Department of the apex bank, on Thursday, July 28, 2021, in Abuja.
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