One of the concerns of most Nigerians in the economic or financial sector is the depreciation of the Nigerian Currency to US Dollar. Even though an average Nigerian might think they have no business with the value or conversion rate of Naira against US Dollar, but critically looking at it, the whole country is affected with this.

People in Nigeria import goods and services from other countries including the United State of America using the exchange values, and the time to time increasement of this exchange rate can be a hindering factor in the importing of goods.

In the 70s to early 80s, the naira exchanged for something like 90 kobo to $1. But by the time Ibrahim Babangida left office in 1993, the naira was exchanging for 17 naira to $1. It was during this time that bureaux de change were introduced into the economy.

As of today, the current exchange rate of Dollar to Naira is $1 equals N388.13.

In your own opinion, do you think Nigeria can witness another time when Dollar and Naira will be equal? Hi