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Davido cries out, says 1 Dollar will hit 1000 Naira soon



Popular artist Davido has expressed concern over the depreciation of Nigeria’s currency, predicting that it would soon reach a critical stage soon.

Italy show promoter yet to pay balance, Davido laments - The Nation  Newspaper

Taking to the micro-blogging platform, Twitter on Monday, May 30, music star, David Adeleke, AKA Davido stated that the present depreciation of the naira to the dollar and the economic standpoint would reach its lowest point if nothing is done.

While the official CBN rate for Dollar-Naira exchange rates is $1 to N415.65 as of today, on the black market, BDC operators buy a dollar for N580 and sell it for N610.

While expressing his displeasure, with the dollar’s meteoric surge versus the naira, he wrote;

Dollar heading to 1k Drastic action is needed”.

Dollar to Naira

However, it is worth knowing that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.

Fenton is a talented and experienced news and entertainment writer at TopNaija, passionate about sharing stories that matter. With a keen eye for detail and a talent for crafting engaging and compelling content, he has built a strong reputation as a reliable and insightful writer. Fenton is a dedicated and talented writer committed to producing high-quality content that is informative, entertaining, and engaging.