Monday’s
stoppage of foreign exchange sales to Bureau De Change operators by the Central
Bank of Nigeria failed to lift the naira on Tuesday as the currency exchanged
for 300 against the United States dollar in Kano, 290 in Lagos and 292 in
Abuja.
Financial
experts said the naira would decline further, while private sector operators
described the move as a welcome development.
The ban was
announced on Monday, when naira trading at 285 against the dollar at the
parallel market from 278 on Friday.
The Acting
President, Association of Bureau De Change Operators, Alhaji Aminu Gwadabe,
told one of correspondents in a telephone interview that the currency traded
against the greenback at 300, 290 and 292 in Kano, Lagos and Abuja a day after
the CBN announcement.
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