History made as naira crashes to all time record low against dollar

The naira is currently trading at 800 against the dollar according to some exchange platforms.

The current parallel market rate is N800 to a dollar and N890 to British pound sterling.

The free fall continues as the ban on Bureau the Change operators remain in place and the CBN announced plans to redesign the country’s currency in response to the country’s economic woes.

The governor of the central bank, Godwin Emefiele, announced on Wednesday that new Naira notes would be issued by December 15. Mr Emefiele stated that the move, which has since been approved by Mr Buhari and other stakeholders, was certain to boost the value of the Naira.