July 18, 2024

BREAKING: Exchange rate for cargo clearance don hit N1,605 per dollar.


For Nigeria, di mata of exchange rate for cargo clearance don turn to one wey dey waka like pesin wey dey dance Azonto. Government, through di Central Bank of Nigeria, don jack up di rate again, and dis time e don reach N1,605 for one dollar. Na like dem dey play ping pong with di rates, as e just dey bounce up and down anyhow.

Dis latest tori dey come just few days afta di rate climb go N1,515/$, before e come reduce small go N1,472. But if we check di journey from January reach now, e be like say na rollercoaster ride for di exchange rate. E don increase and decrease sotay e be like say na di rate dey play hide and seek.


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Imagine say for December, di rate dey chillax for N952/$, then e begin dey waka sotay e reach N1,356. Dis na before e dance go N1,413, come chill for N1,444. E no end dia o, e still move go N1,515 before e finally settle for dis current level, N1,605.

Wen we send our reporter go Nigeria Customs Service website on Wednesday, e see with im korokoro eyes say di new rate don reflect for dia. Na im be say if pesin wan clear cargo, e go need to part with plenty plenty Naira to exchange for just one dollar.

Dis constant waka of di exchange rate fit get serious impact for di economy. E fit affect how businesses dey run and how much dem fit afford to import. For everyday people too, e fit mean say di price of things wey dem dey buy fit increase, as di cost of importing goods go high.

Government go need to look into dis matter wella and find lasting solution, so make di economy fit stand strong.

You fit  go read di tori about di Cargo clearance exchange rate…READ MORE