Breaking! Davido Cries Out Over Dollar Rise




Nigerian musician and label executive, David Adeleke, popularly known as Davido, on Monday lamented about the spike in the exchange rate of the Nigerian currency, naira to the United States dollars.
 
Reports had emerged Monday that the parallel market has responded to the fresh devaluation of the naira amidst growing foreign exchange illiquidity. The local currency weakened to N500/$ at the black market at the weekend.

The Central Bank of Nigeria, CBN, had adjusted the value of the naira by N6 against the dollar on Friday. That was the third time the naira would be officially devalued this year.
 
Davido took to his verified account on the micro-blogging app, Twitter to register his displeasure.
 
According to him, he almost cried after he was informed that one dollar is equivalent to N500 when he went to convert some Nigerian currency to the dollar equivalent on Monday.
 
He however did not disclose if he did the conversion at the parallel market, otherwise known as the black market, or in a bank. 
 
Davido tweeted: "Dollar don reach 500 ... I changed naira to dollar today and I almost cried smh this country nawa."

Enjoyed this article? Stay informed by joining our newsletter!

Comments

You must be logged in to post a comment.

About Author