By Ademola Adeleye
The Naira is sliding back from the land of the dead against the dollar at the parallel foreign exchange market following increased liquidity on Wednesday.
Operators of Bureaux De Change (BDC) operators, in Abuja said the naira is now N825 to a dollar.
This is a marginal increase of the naira following its slide last week to an all-time low of N885 to the greenback.
“ We are hoping all these nonsense will soon stop, there is a small sanity now because we have more dollars in the market,” an operator told this newspaper in Abuja.
The naira had witnessed a humiliation against major currencies following announcement by the Central Bank of Nigeria (CBN) on plans to redesign the naira before the 2023 general elections. This has prompted a high demand for the dollars as those who have hoarded the naira are allegedly converting the money into dollars.
