Naira right down to N351.9 in parallel market
The Nigerian monetary unit yesterday depreciated to N351 per dollar within the parallel market as a result of exaggerated demand.
market survey unconcealed that the parallel market rate that closed N385 per dollar last week rose to N351 per dollar yesterday. Market operators but expressed optimism that the Nigerian monetary unit can appreciate these days once the financial organization of African country (CBN) delivers the $20,000 bi-weekly sale to bureaux American state modification these days. Meanwhile, the African country association of Editors (NGE) has urged Nigerians to support the financial organization of Nigeria (CBN) in its activities to diversify the economy, even as it counseled efforts of the bank towards resuscitating the nation’s indisposed economy. Rising from its 2017 biennial convention in urban center attended by over 350 editors of media shops within the country, the association aforesaid efforts of the central at diversifying the economy air commendable. The association counseled the CBN for its intervention within the forex market, that it noted not solely qualified the rate however conjointly halted the rising inflation within the country. The editors, in an exceedingly seven-point news report signed by the re-elected President, Funke Egbemode, and Secretary-General, Victoria Ibanga, conjointly expressed their support for the CBN’s leading role in advancing patronage for made-in-Nigeria product. The association so urged all Nigerians to support the government the bid to exit the economic recession, that they aforesaid has affected all, together with the media business. In spite of current challenges, the association reproved the media to accentuate efforts in promoting government’s policies on economic diversification.

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