NAIRA KEEP FALLING AT N 465 PRE DOLLER AT PARALLEL MARKET

at N465 to a dollar after closing at N458 on Thursday, while the Pound Sterling and the Euro traded at N542 and N480.

There seens to be a need for the review of distribution mechanism, this was said by the Alhaji Aminu Gwadabe, who is the President, Association of Bureau De Change Operators of Nigeria. According Alhaji Aminu Gwadabe, there is so such need to harmonise the different applicable exchange rates volumes with Travelex and banks with that of BDCs to reduce friction. In Nigeria currently, Naria is continouslly depreciting while news and information bears it that CBN injected over $500m into the market to boost liquidity.