Importers Return to Parallel Market as Naira Rebounds

Importers have returned to the parallel market to source for their forex needs as liquidity challenges persist in the official market, analysts have said.

This is despite the lifting of forex ban on importers of 43 items by the Central Bank of Nigeria recently.

Naira had recorded gains at the parallel market after recent fall. According to figures obtained from Aboki Forex on Saturday, the naira was bought and sold for 1,140/$ and 1,150/$; It had earlier traded at 1,310/$ on Tuesday at the parallel market.