JUST IN: Dollar crashes to N650 as Nigerians rush to sell their hoard dollars
Some people and corporate entities are saving their fortunes in dollars as a preferred store of value, Kwamkwam news investigations revealed.
Some of those who spoke to our correspondents said it was safer, convenient and profitable to hoard dollars because of the dwindling fortunes of the naira, especially in the parallel forex market.
Analysts believed that the rush for the dollar and other factors have further exacerbated the pressure on the naira as checks at the bureau de change (BDC) market in Wuse, Abuja and other places showed that the value of the Nigerian currency was fast plummeting.
This is so untrue.
Is April fool
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