With a gap of N284 between the official exchange rate and the parallel market rate, analysts at Cordros Research said the Central Bank of Nigeria(CBN) would not
devalue the naira anytime soon, even as they warned that lack of flexibility in the foreign exchange market could lead to further misalignment in rates.
Also, banks had stopped allowing their customers use their naira denominated cards to settle international transactions as foreign exchange scarcity hit.
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