BREAKING: Naira falls massively, exchange rate now N590 to one dollar

Nigerian currency, naira, has continued to fall on the parallel market.
This is just as the exchange rate on the parallel market is now towards N590/$1.
The development, according to the Manufacturers Association of Nigeria, may lead to massive job loss in the manufacturing industry, among other sectors.

Checks by The Punch on Tuesday showed that the exchange rate stood at N585/$1 and N785/£1 on the black market as against the N582/$1 last Friday.
This is just as banks have also limited customers’ access to forex, placing a cap of $20 per month for online transactions.