The Punch reports that the Nigerian Naira yesterday, exchanged at N257 to the Dollar at the parallel market. The naira has been losing value against the greenback since last Wednesday when the Central Bank of Nigeria stopped the sale of foreign exchange to some Bureaux de Change operators who didn’t provide returns on the utilisation of previous forex purchases.
The exclusion continued on Wednesday and has been creating shortage of dollars, which is causing the greenback to rise at the parallel market. The president, Association of Bureau De Change Operators, Mr. Aminu Gwadabe, said it’s in contact with CBN to resolve the issue.