The black market rate of the naira dipped further against
the dollar as it lost 4 points to exchange for N357 to a dollar, from N353,
N462 to the pound sterling from N460, and N385 to the Euro from N383 it traded
on Monday.
Nevertheless, the official rate of the naira closed at
N283.42 to the USD.
In the meantime, the President, Association of Bureau De
Change Operators of Nigeria (ABCON), Aminu Gwadabe, has called for the closure
of the big gap in the forex market for the effective implementation of
government policy.
He went further to warn currency hoarders to sell off their
dollars because the economy will soon recover.
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