The naira has crashed badly against the dollar as it reached an all-time low leaving many Nigerians in serious shock.
The naira has fallen to an all-time low by exchanging at N418 to the dollar on Tuesday evening at the parallel market, while the euro and pound exchanged at N461 and N533 respectively.
According to information provided by
AbokiFx, this is the worst the naira has recorded since this year. The fall of the naira has seen business collapse and hardship increase in the country.
Source: abokifx.com
The scarcity of forex has forced businesses to close down as many have complained of the difficulty and expenses incurred looking for dollars to purchase materials for business.