Naira sinks further into the abyss as Nigeria's slide towards OBLIVION quickens

Naira sinks further into the abyss as Nigeria slide towards OBLIVION quickens

As Nigeria progresses in her journey to oblivion, the country's currency naira on Wednesday continued depreciating against the dollar following scarcity of the greenback [dollar] and strong demand for it amid dwindling liquidity.

Reuters reports that the local currency eased to 318 to the dollar on the parallel market, having closed at 312 the previous day. At the official interbank window the naira was stable around 197.

“We have demand coming from importers (paying) …their due obligations, while dollar supply has dried up,” said Aminu Gwadabe, head of the association of bureau de change operators.

General Muhammadu Buhari has killed the Naira!