Nigerians Panic As Naira Crumbles To 500 Per Dollar At Parallel Market

  Nigerian naira on Monday crumbled to 500 per dollar at the parallel market sending significant shock to businesses as analysts predicted a sharp depreciation on the currency.


   The currency plunged further against the United States dollar to an all time low record of 500 on Monday morning, down from 498 it closed on Friday.

  The currency had continued to fall since the beginning of the year as experts see the currency hitting over 500 to the dollar this year.