huge debt

The huge debt burden and how  we got there (3)

The huge debt burden and how we got there (3)

WHEN General Sani Abacha (1943-1998) took over from Chief Ernest Oladeinde Adegunle Shonekan on November 17, 1993, he pegged the official rate at N21 to US$1. In the black market it was running close to N50 per US$1,that is if you can get it to buy. The official rate of N22 per dollar stayed throughout the tenure of General Sanni Abacha.