Index to Nigerian Newspapers

Banks are ignoring the Central Bank of Nigeria, leading to a deterioration of dollar scarcity. The Naira depreciated by 63% in the parallel market, with the CBN implementing changes such as eliminating multiple exchange rates and introducing a willing seller, willing buyer model. The volatility will continue, with the Naira depreciating depending on dollar supply. The exchange rate in both I& is expected to appreciate in the coming weeks.

Banks are ignoring the Central Bank of Nigeria, leading to a deterioration of dollar scarcity. The Naira depreciated by 63% in the I&E market, with the CBN intervening due to matured obligations. The volatility will continue, with the Naira depreciating depending on dollar supply. The exchange rate in both I&E and parallel markets will gradually go down.