Naira Consolidates Gain Against Dollar

[Mr. Babatunde]

The Naira yesterday strengthened against the dollar in all the major segments of the market, the News Agency of Nigeria (NAN) reports.

At the parallel market, the Nigerian currency gained five points to exchange at N385 to the dollar from the N390 recorded on Wednesday.

The Pound Sterling and the Euro traded at N495 and N410, respectively.

At the Bureau De Change (BDC) segment, the naira closed at N362 to the dollar, while the Pound Sterling and the Euro exchanged at N490 and N424, respectively.

Currency traders urged the Federal Government to plough back the huge sums of money recovered from looters into the economy to further prop up the naira. (NAN)