Naira slumps further, exchanges for 473/$

Published January 13, 2021

Nike Popoola
The naira suffered further setback at the parallel market and Investors and Exporters forex window on Tuesday .
According to figures obtained from Bureau De Change operators , the naira exchanged to the dollar for 473/ $ at the parallel market .
It had earlier gained in recent times after it closed the year 2020 at 467/ $ .
At the I &E window , the naira fell by 0 .17 per cent to close at 394 / $ on Tuesday .
It reached a low of 401 at the I &E window at the close of 2020 .
The Central Bank of Nigeria however maintained the official exchange rate at N 379 / $ on its website .
The Association of Bureaux De Change Operators of Nigeria recently appealed to the CBN to make BDCs payout agents for diaspora remittances .

The President , ABCON , Alhaji Aminu Gwadabe , said the apex bank should leverage the over 5 , 000 licensed BDCs across the country to get dollars seamlessly to beneficiaries.
Gwadabe said this would help in providing a more convenient channel for Nigerians in the diaspora to remit funds back to the country to boost economic development .

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