Just in: Naira gains against dollar at I & E window

Just in: Naira gains against dollar at I & E window

The naira on Tuesday, February 12, gained 28 Kobo to exchange at N361.67 to the dollar at the investors window, stronger than N361.95 traded on Monday, February 11.

Market turnover at the investors’ window stood at 131.99 million dollars.

At the parallel market in Lagos, the naira traded flat at N358 to the dollar, while the Pound Sterling and the Euro closed at N473 and N411, respectively.

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At the Bureau De Change (BDC) segment, the naira traded at N360 to the dollar, while the Pound Sterling and the Euro closed at N473 and N411 respectively.

The News Agency of Nigeria (NAN) reports that the naira had remained stable at the foreign exchange market in spite of the upcoming elections.

Meanwhile, Legit.ng previously reported that the acting chairman of the Economic and Financial Crimes Commission, Ibrahim Magu, had cautioned Bureau de Change operators in the country against aiding corrupt practices of some politicians.

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Magu made this known at a meeting with the Association of Bureaux De Change Operators of Nigeria in Abuja on Thursday, November 15.

In a statement by head, media and publicity of the EFCC, Tony Orilade, the chairman said the politicians often connived with BCD operators to steal public funds.

The chairman said: “These politicians transfer looted funds from government accounts to BDC’s accounts; in ten, twenty million in about 75 transactions in one day. This is done with only paperwork, no physical cash."

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Source: Legit.ng

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