Naira’s Black Market Fall A “Major Concern” To CBN – Head of BDCs

The naira hit a fresh low on the black market on Wednesday and the head of its bureau de change association urged his members to help stabilise the currency, whose continued weakness had become a “major concern” to the central bank.
“The growing spikes in the parallel market to over 500/$ is becoming a major concern to the central bank … and detrimental to the cordial relationship existing between us and regulators,” Aminu Gwadabe told members.
The naira was quoted between 507 and 510 per dollar on the black market, traders said.
© Reuters News

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