Naira crashes in value, dollar sells for N420
Naira crashes in esteem, dollar sells for N420 Distributed March 13, 2020 CBN fines 100 BDCs over N5m each Nike Popoola On Thursday, the naira traded somewhere in the range of N405 and N420 to a dollar in the Bureau De Change portion of the market. The President, Association of Bureaux De Change Operators of Nigeria, Aminu Gwadabe, said the unrefined petroleum value which fell radically in the worldwide market to as low as $35 per barrel, raised hypotheses among the BDC administrators and Nigerians as a rule. He said this caused theories in the market which were a bit much. Gwadabe stated, "With the fall in oil raw petroleum costs on Monday, we saw a ton of remote financial specialists portfolio dropping their benefits, most particularly to change over to money. "The development was because of carelessness on the administrators, when they need to hypothesize, however there is no purpose behind such in light of the fact that the Central Bank of Nigeria ha...