“It Will Get To N5,000 Under Clueless Tinubu” – Deji Adeyanju Reacts As Naira Depreciates Despite FG’s Arrest Of Binance Executives And Platform Ban

“It Will Get To N5,000 Under Clueless Tinubu” – Deji Adeyanju Reacts As Naira Depreciates Despite FG’s Arrest Of Binance Executives And Platform Ban....KINDLY READ THE FULL STORY HERE▶

Writtren By Oshiobugie John

Political Commentator, Deji Adeyanju, has sharply responded to the recent news of the naira’s depreciation against major currencies on the parallel market, despite President Tinubu and his economic team’s arrest of Binance executives a few days ago and the subsequent ban on the platform. READ THE FULL ARTICLE HERE

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Last week, reports emerged that thousands of BDC operators in the country had their licenses revoked by the CBN, alongside the revelation that the FG plans to inject ten billion dollars to stabilize the naira.

On Monday, the Naira experienced a decline to N1,620/$ within the parallel section of the foreign exchange market. This figure reflects a N20 drop, marking a 1.25 percent depreciation compared to its value of N1,600 on March 1, 2024.

Currency traders in Lagos, commonly referred to as bureau de change (BDC) operators, disclosed to TheCable that the buying rate for the greenback stands at N1,580, with a selling price of N1,620, maintaining a profit margin of N40.

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Source: Bushradiogist