The naira continued to lose value against the dollar in the foreign exchange market.
According to FMDQ data, the naira weakened to N1,500.79 per dollar on Tuesday, down from N1,490 on Monday, marking a loss of N10.79.
In the parallel market, however, the naira remained stable at N1,505 per dollar. This occurred as foreign exchange turnover dropped to $136.75 million on Tuesday from $152.00 million on Monday.
In response, the Central Bank of Nigeria recently issued a new directive to international money transfer operators and all banks to enhance diaspora remittances and improve naira liquidity.
