Naira weakens on Parallel market again

In spite of the Central Bank of Nigeria decision to push more dollars to Operators of Bureau De Change, the naira lost more grounds to the dollar on the parallel market on Wednesday selling for about N272 to a dollar as against the N262 on Monday.

National Daily gathered from the acting Chairman of Bureau De Change Operators of Nigeria, Alhaji Aminu Gwadebe that the CBN sold $10,000 each to 1,600 BDC firms at an auction yesterday.

He said that was the first dollar cash sale to BDC in 2016, and was not enough to meet the huge demand in the market. He therefore called on the apex bank to find a lasting solution to the shortage in other to rescue the naira from a dangerous free fall.