Abuja, Nigeria – E be like say naira dey play yo-yo with dollar again! Yesterday, naira jacked up small-small to N1,560 per dollar for parallel market. Last Monday, e dey N1,565. But wait, make I clear you: for the official Nigerian Foreign Exchange Market (NFEM), naira no too happy o, as e drop to N1,530.5 per dollar from N1,529.5 on the same Monday.
So, as you fit see, naira dey catch cruise for parallel market, but na for NFEM, na different story. E mean say naira don lose some weight, which no too sweet for our pockets. But no wahala, the difference between the parallel market and NFEM don reduce to N29.5 per dollar from N35.5 the day before. (E be like say naira dey try balance am sef, make everybody happy.)
Now, how dem dey exchange all this gists? Na by the data wey Central Bank of Nigeria (CBN) drop like hot eba. Dem show say naira dey face serious wahala for that official market, wey no fit match the palava wey dey happen for ground. Wetin we fit do? Just dey watch am go like reality show!
For stock market matter, e be like say investors dey feel big stress too! Dem trade about 5.47 billion shares worth N108.1 billion in more than 118,570 deals this week. But on Friday, e be like say the market don turn play-play as investors lose N244 billion! Na wa o, after two days of gains, na wetin we call market wahala.
One thing we go fit sabi be say, naira and dollar matter no go ever finish. E go always dey on top our mind like that one uncle wey dey always carry phone dey disturb us when we dey chill for corner. So make we carry palm wine pour for this naira matter, and keep watch! Wetin you tink say go happen next week? I dey wait for your gist!
