The Nigerian Naira Monday, kept on its downward slide against the US Dollar in the foreign exchange market.
Data from the parallel market section and FMDQ showed further depreciation against the dollar on Monday.
A Bureau De Change operator, at the parallel market, in Wuse Zone 4, Mistila Dayyabu, disclosed that the Naira was sold as high as N1,517 per Dollar on Monday before settling at N1,500 per $.
Said he: “On Monday morning, the Dollar was sold at N1,517 per Dollar. However, on hearing the information about the coming of the Economic and Financial Crimes Commission (EFCC) operatives, we started selling at N1,500 this evening”.
The figure increased from the N1, 450 per Dollar it traded at the weekend.
Similarly, at the official market, FMDQ data showed that they dipped to N1,478.11 per Dollar on Monday from N1,466.31 last Friday.
This represents N11.8 drop from the N1,466.31 recorded last Friday.
Olayemi Cardoso, Central Bank of Nigeria (CBN) governor, earlier said the apex bank’s Monetary Policy Committee would do everything to bring down the soaring Nigeria’s inflation, which stood at 33.22 per cent in March 2024.
