The naira continued its freefall on Thursday, crashing to 280 against the dollar at the parallel market.
The naira, which was trading at between 241 and 243 against the greenback about three weeks ago, began a steady fall after the Central Bank of Nigeria stopped sale of foreign exchange to a number of Bureaux De Change Operators due to improper documentation.
Analysts said the development would lead to inflation and affect the profitability of businesses.
The naira, which was trading at between 241 and 243 against the greenback about three weeks ago, began a steady fall after the Central Bank of Nigeria stopped sale of foreign exchange to a number of Bureaux De Change Operators due to improper documentation.
Analysts said the development would lead to inflation and affect the profitability of businesses.
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