Nigerian celebrities have reacted to the recent increase in dollar rate.
The likes of Ebuka Obi-Uchendu and other worried netizens have reacted to the rise in US dollars.
According to checks made on Wednesday, the pricing on the black market is currently set at N710 per dollar.
According to data from Aboki Forex, the national currency, which on Monday was trading for N670 versus the dollar, has dropped even more since then, down 6.7 percent in just two days as of Friday afternoon.
Due to their illicit sales of foreign exchange above the market they were authorized to serve, the BDC operators’ purchase of foreign currency had previously been restricted by the central bank.
BDC operators were a significant part of the black market before the prohibition, helping people who couldn’t legally get foreign currencies directly from the CBN to maintain their exchange rates.
The currency exchange rate was approximately N501 to a dollar when CBN Governor Godwin Emefiele forbade the sale of foreign currencies to BDC. However, the value of the naira fell to N670 to the dollar a year following the prohibition.
Reacting to this new development, Ebuka Obi Uchendu took to his Twitter account to scream.
Jnr. Pope asked: is this a joke?
Olusholabisi asked:How soon will this be over, It is rapidly worsening.
