Tobi Adebayo
Nigerian singer, David Adeleke a.k.a Davido has raised an alarm over the exchange rate of the naira to a dollar.
ThisNigeria reports that the Naira opened at ₦418.54 per dollar on Tuesday, May 31 and closed at ₦419.50 per $1.
However, the naira opened in the parallel market a.k.a black market for ₦606 per $1 today, June 1.
Reacting to the rate, Davido called for a drastic action to be taken by the government.
“Dollar heading to 1k. Drastic action is needed,” he tweeted.
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Governor of the Central Bank of Nigeria, Godwin Emefiele had in 2021 declared that the apex bank did not recognise the “black market” rate.
“The only exchange rate remains the I&E window, which is the market we expect everybody who wishes to procure or sell forex to get it.
“I am sorry to say that I do not, and I do not intend to recognise any FX in the market.
“Go to your bank. Even if your limit is above what the bank is selling, put it forward, and we will look into it. If you want to sell the dollar, go to your bank and sell it,” he said.
