Naira Slumps Further, Exchanges For 473/$

source: punchng

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 N379 /$ 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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