NAIRA/DOLLAR: Naira crashes to N465 per dollar in black market

The Nigerian Naira has dropped N10 to trade at N465/$1 on Wednesday, November 16, as against the N455/$1 it was yesterday in the black market. The depreciation comes after operatives of the Department of State Service (DSS) and Economic and Financial Crimes Commission (EFCC) raided offices of Bureau de change (BDCs) last week. It was gathered that the DSS raided offices of BDCs in some part of Lagos and Abuja, arresting operators that sell above the exchange rate stipulated by the Central Bank of Nigeria (CBN).

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