As the exchange rate for ticket prices reaches N702/$, findings show that airfares on Nigerian routes to various locations in Europe, North America, the Middle-East, and other foreign cities have skyrocketed. The development came just a week after the Central Bank of Nigeria, (CBN) floated the naira and directed commercial banks to sell foreign exchange at market rates. Recall that the CBN last week introduced new forex guidelines aimed at unifying the nation’s exchange rate, as part of its efforts to end multiple exchange rates that have caused several investors…
Read MoreAirfares skyrocket as exchange rate hits N702/$
