"N500,000 is Just 270,000 CFA": Nigerian Man Visits Ivory Coast, Discovers Their Currency is Strong

• A Nigerian man who is in Ivory Coast said he converted N500,000 to CFA, and it amounted to only 270,000 CFA
• In a post he made on X, Taofeek Ibrahim, a professional photographer covering the 2023 AFCON, said he was surprised
• Other social media users who saw the post said they were not surprised that the naira is weaker than the CFA

A Nigerian man who visited Ivory Coast shared his experience converting the naira to the West African Franc (CFA).

Taofeek Ibrahim is a photographer, and he is currently in the country covering the ongoing African Cup of Nations (AFCON).

Taofeek said he converted N500,000 to CFA, and he got 270,000 CFA. He came online to express his surprise in a post on X.

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He wrote:

"How do I explain I just changed N500,000 to 270,000 CFA?"

Checks online showed that 1 naira is currently exchanged for 0.67 CFA at the official market.

See the post below:

Social media reactions to exchange rate

Many social media users joined him to express their views on the topic.

@teddi_speaks said:

"Naira is useless outside of Naija but hold better value for money inside naija than most currencies in their respective countries, it’s hard to explain it."

@Arab_kid00_ commented:

"Two years back, 500k would have given you 700k CFA."

@MoscoOBA commented:

"Just a few years back, that 500k would have given you 1.5million CFA."

@hichiefK said:

"What can you buy with your CFA 270K & your N500K. That's the real question. Can you answer that?"

@AlphaNovember83 said:

"Naira has lost its value now. In fact, Zimbabwe dollars is now catching up with Naira. Seme border here, they have started accepting dollars as small bribes, no more Naira."

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@ElonCanada said:

"The only country Naira is valued right now is Nigeria. It hurts that many of us don't see what is ahead until it hits us hard."

Lady converts naira to Guinea Franc

Earlier, Legit.ng reported that a Nigerian lady who visited the Republic of Guinea was pleasantly surprised after she converted N150k to Guinea Franc.

The lady, Toke, got 1.5 million Guinea Franc after she converted the N150,000 she had, and this made her a millionaire in Guinea.

Toke joked that the easiest way to become a millionaire is to relocate to Guinea and change Naira to Guinea Franc.

Source: Legit.ng