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BREAKING : ‘Naira to Dollar exchange rate will crash to N423/1$’



 BREAKING Naira to Dollar exchange rate will crash to N423 1

The Bankers Committee headed by the Chief Executive Officer of Access Bank, Herbert Wigwe, has assured Nigerians that the exchange rate will drop to around N423 to a dollar.

The Bank CEOs addressed the media on Thursday following the halt in the sales of forex to Bureau De Change operators by the directive of the Central Bank of Nigeria (CBN).

Addressing the question on the sharp spike which saw the dollar hit N523, the Chief Executive Officer of Guarantee Holdco (GTCo) said: “What we saw in the market yesterday and today is an aberration.

“The rate will come down. Very soon, you will buy at N423 or N425 at most. ”

He said people can start working into any bank branch to initiate their request.

READ ALSO :New CBN policy on forex portends danger for Nigerian economy – Experts warns

Wigwe said the CBN has sent out circulars asking Banks to set up dedicated channels for all those requesting invisible.

” There will be no additional cost charged by the banks for offering these services.” he added.

More details to follow……

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