With the rapid decline of the naira against the dollar and the constant increase in the prices of items in the market, Nigerians have taken to social media to lament the impact on them.
According to the parallel market, the naira has again rapidly declined to N1,825 per dollar.
News About Nigeria reports that the sharp decline is coming barely 24 hours after the local currency slumped to N1,700 per dollar at the parallel market.
Also, this is despite efforts by the Economic Financial Crimes Commission (EFCC) to stop the free fall of the naira by raiding some Bureau de Change operators’ outlets in Abuja and arresting currency traders suspected to be speculating against the naira on Monday.
On Monday, the EFCC raided the well-known Abuja Zone 4 market, shooting at Bureau de Change operators to stop the naira’s rapid decline.
However, in less than 24 hours after the raid by the anti-graft agency, the naira has continued its rapid decline, this time from N1,700, which it was as of yesterday to N1,825 to a dollar in just 24 hours.
Reacting to this, an X user, @ruffydfire noted that the continuous fall of the naira against dollars shows that the Central Bank of Nigeria (CBN) is helpless.
“The continued slide in the Naira shows the CBN Is helpless. You can’t lose close to 50% in 3 months of your currency value and except the wider world to take you seriously. We are walking a forest filled with land mines,” he stated.
Also, another X user, identified as @Princez_eve while lamenting the impact of the continuous decline of the naira noted that, her monthly salary is no longer up to a 100 dollars.
Her post reads, Dollar is over #1800 nowwww. God, $100 is more than my monthly salary.”
