The News Agency of Nigeria reports that the Nigerian currency lost 20 kobo from N361 earlier traded before the Easter break.
At the parallel market, the naira traded at N360.20 to the dollar, while the Pound Sterling and the Euro closed at N502 and N404, respectively.
The News Agency of Nigeria reports that the figure has been stable in the past two weeks.
Prof. Uche Uwaleke, the Head of Banking and Finance Department, Nasarawa State University Keffi, expressed the view in an interview with the News Agency of Nigeria in Abuja on Monday.
However, it was sold at N363 to the dollar at the parallel market, while the Pound Sterling and the Euro closed at N505 and N442 respectively.
The flour and pasta maker will offer 1.47 billion shares at N27 apiece, an 18.2 per cent discount to Thursday’s market price of N33.
The spokesman stated that the suspects violated Sections 20 and 21 of the CBN Act that made selling or hawking of Naira notes an offence.
At the Bureau De Change window, the Naira traded at N362 to the Dollar, slightly lower than the parallel market rate, while the Pound Sterling and the Euro closed at N475 and N420.
The Nigerian currency had exchanged at N520 to the dollar at the peak of onslaughts by currency speculators before the CBN stated intervening by injecting foreign exchange in the market
Traders told NAN that patronage at the market was slow as they awaited the outcome of the Monetary Policy Committee meeting of the Central Bank of Nigeria
In anticipation of Sallah holiday, the Central Bank of Nigeria on Thursday raised the total intervention for the week to 547 million dollars as against 195 million dollars offered the previous week. The CBN spokesman, Isaac Okorafor in a…