Naira Now N325 To A Dollar

Due to shortage of dollars, the naira at the parallel market on Thursday depreciated drastically as desperate importers scrambled for dollars to meet their obligations overseas.

The currency had closed at 318 against the greenback on Wednesday, after hitting 313.5 and 310 on Tuesday and Monday, respectively.

Some Bureau De Change Operators say they fear the naira will fall further in coming days if the central bank fails to lift the dollar restriction.