The naira which until Wednesday this week exchanged between N310 to N320 to the dollar at the parallel market, has depreciated again to N322 by the close of trading on Thursday.
Some dealers who spoke to Nigerian Tribune are even pessimistic about any improvement in the coming days.
“With the way things are in the country presently, there is no possibility that the Naira will fare better in the coming days because the price suddenly rose in a few hours.
“It stays at N322/dollar right now. Hopefully, things will get better in the next few days, but the hardship in the country right now is killing,” one dealer disclosed.
This was as the federal government has observed that forces, who have failed in their attempts to force devaluation of the Naira, were creating artificial currency situation with the aim of undermining the economic programme of President Muhammadu Buhari.
The government is worried that the current state of the Naira is not the result of neutral economic factors or directly related to demand and supply forces alone, but the activities of currency manipulators which it describes as economic terrorism.
“On the contrary, and indeed, on a very sad note, it is apparent that our national currency is being deliberately undermined through carefully orchestrated criminal conspiracies and manipulation by unscrupulous elements hiding under the clog of the so called market forces,” the Attorney General of the Federation and Minister of Justice, Mr Abubakar Malami, had told newsmen
Meanwhile, Nigeria plans to raise N1.07 trillion from treasury bills issuance in the second quarter of 2016, the central bank said on Thursday.
The bank said it would auction N303.77 billion worth of 91-day bills, N169.98 billion worth of 182-day paper and N599.63 billion of one-year paper between March 17 and June 2.
Available records show that the country raised N1.22 trillion from treasury bills in the first quarter of 2016
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