Naira Don Fall Again, Now N1,476 to $1 for Black Market

Gap between official and black market dollar rate widen to N29 as Naira value drop for both markets.

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Di Naira don drop again for Friday as e trade N1,476 to one dollar for black market, small up from di N1,473/$ wey dem sell am on Thursday.

For di official Nigerian Foreign Exchange Market (NFEM), di Naira still fall reach N1,446.9/$, according to Central Bank of Nigeria (CBN) tori.

CBN figures show say official rate jump from N1,445.9/$ on Thursday to N1,446.9/$ today — wey mean say Naira lose N1.9 for value.

Dis movement don widen di gap between black market rate and NFEM rate to N29.1 per dollar, compared to di N27.1difference wey dem see yesterday.

Market people dey talk say strong dollar demand and low supply na wetin dey press Naira down for both markets.

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