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Home»Business & Economy»Naira Falls By 0.64% Amid Emefiele Suspension
Business & Economy

Naira Falls By 0.64% Amid Emefiele Suspension

Alexandra UmehBy Alexandra UmehJune 10, 20232 Mins Read
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Godwin-Emefiele
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ENUGU, Nigeria (VOICE OF NAIJA) – On Friday, Naira depreciated further against the dollar at the Investors and Exporters window, with exchange rate of N472.50 to dollar.

The local currency showed a 0.64 per cent decrease when compared with N469.50 it exchanged for the dollar on Thursday.

But in Friday, the open indicative rate closed at N471.32 to the dollar.

Meanwhile, an exchange rate of N477 to the dollar was the highest rate recorded within the day’s trading before it settled at N472.50, Punch reports.

Also, the Naira sold for as low as 460 to the dollar within the day’s trading.

READ ALSO: Naira Hits New Record Low In The Official Market

On Friday, a total of 77.42 million dollars was traded at the official Investors and Exporters window.

Voiceofnaija.ng reports that President Bola Tinubu, on Friday, suspended the Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, from office with immediate effect.

The suspension is following the ongoing investigation of his office and the planned reforms in the financial sector of the economy, according to a statement on Friday by the Director of Information, Office of the Secretary to the Government of the Federation, Willie Bassey.

Emefiele was directed to immediately hand over the affairs of his office to the Deputy Governor (Operations Directorate), who will act as the CBN governor pending the conclusion of the investigation and the reforms.

Godwin Emefiele Naira to Dollar
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Alexandra Umeh

Alexandra Umeh is based in the eastern region of Nigeria. She covers politics, news writing, feature stories, among others. She has multitasking skills and can easily adapt to any working condition. She enjoys reading and writing.

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