Headlines
Naira Redesign; Dollar May Crash To N200 -EFCC Boss
The Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, has said the dollar might drop to ₦200 after the redesigning of naira.
He said this in a recent interview with Deutsche Welle (DW) Hausa service.
According to him, “The law says the redesigning of Naira notes should be done every eight years but we spent 20 years without any changes on them.
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” And that resulted to 85 per cent of money are in circulation not in banks, when CBN came up with this redesigning, dollar moved to 880 and later dropped to 680 or thereabouts.
So you see with this redesigning dollar may massively fall, who knows probably to ₦200.”
Recall the the aunty graft agency has been in a hot chase for bureau de changers in the country who as the result of the CBN announcement of redesigning the country’s currency,increased the price of dollar in black market.
The CBN currency redesign is set to commence on 15th December,to 31 st January 2023 and Nigerians are expected to deposit the old currencies to their respective local banks before the end of the given date or end up losing their moneys.
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