The naira continued its free and unabated fall on Thursday as it now exchanges for N370 to a dollar at the parallel market.
It was observed that the fresh pressure on the naira since last week Thursday has seen the currency fell further from N318 to N370 to a dollar, an additional N52 margin.
While the Bankers Committee meeting held in Abuja last week Thursday was considering the inclusion of medical tourism and school fees payment abroad in the prohibition list, TheCable colloquium in Lagos, had some of its participants supporting the policy, as well as opposing devaluation.
Meanwhile, the foreign exchange reserves have fallen to $27.81 billion from $28.95 billion in barely six weeks, representing a decline of $1.14 billion. The Director of Corporate Communications, Central Bank of Nigeria (CBN), Alhaji Ibrahim Mu’azu, said the reserves would have decreased to about $20 billion, but for measures adopted.
