Dollar may soar to 200 Naira, according to EFCC boss Bawa.

The dollar could fall to 200 after the redesign of the naira, according to Abdulrasheed Bawa, Chairman of the Economic and Financial Crimes Commission (EFCC). He stated this in a recent interview with the Hausa service of Deutsche Welle (DW).

The law states that Naira notes should be redesigned every eight years, yet we went 20 years without doing so, he claims.

And as a result, when the CBN proposed this redesign, the dollar went to 880 and eventually fell to 680 or approximately, with 85% of the total amount of money not in banks. So as you can see, the dollar might drastically decline as a result of this overhaul, possibly reaching $200.