The claim that the Naira has reached a record low of N1,999 per US dollar has been spreading rapidly on social media, especially X, since Tuesday. This claim follows recent questions about Tinubu’s supposed unification of the dollar exchange markets.
While some X users maintained skepticism about the information, some have voiced their dissatisfaction, reinforcing the veracity of the claim.
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Chameleon, an X user with a substantial following of 15,000 people posted the claim and a reaction on Wednesday. At the time of this report, 169,000 people had viewed this post and about 2000 had liked it.
$1 is now NGN 1,999 I just hope say no b country wey God tell Abraham make he Comot we Dey so pic.twitter.com/n3NdR0gMsQ— chameleon (@chameleon_fr) October 17, 2023
Another X user, Chimerie Udeze, also posted the claim on Wednesday. His post had garnered more than 20,000 views at press time.
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“Nigerians crying 1$ is now NGN 1,999″Nigerians that earn in Dollars: pic.twitter.com/N4QvL6GEb7— Fortunate (@ChiemerieUdeze) October 18, 2023
CLAIM: A dollar is now N1,999.
VERIFICATION: FIJ consulted three random CBN registered bureau de change companies — Dealmakers BDC, Donnette BDC and Everdon BDC — to verify the claims. At the time of this report, a dollar still cost N1,050 on the parallel market, according to the bureau de change companies.
The official exchange rate today, according to the Central Bank of Nigeria, is N765.241.
CONCLUSION: One United States dollar is officially N765.241 and N1,051 on the parallel market.
VERDICT: The claim that the dollar is N1,999 is false.
The post FACT CHECK: Is One Dollar Now N1,999? appeared first on Foundation For Investigative Journalism.