The naira continued its downward trend after exchanging to the dollar at 980/$ at the parallel market on Wednesday. A week earlier, the naira exchanged to the dollar at 950/$. Bureau de Change operators attributed the fall to scarcity of foreign currency. “We bought and sold the naira today at 965/$ and 980/$. The dollar
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Court Freezes 65 Accounts For Forex Manipulation
A Federal High Court in Abuja has ordered the Central Bank of Nigeria (CBN) to freeze all transactions in 65 bank accounts linked with 12 firms and a man suspected to be involved in the manipulation of the nation’s foreign exchange market. Justice Ahmed Mohammed gave the order while ruling was on the motion ex-parte
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