The Naira reached a record low of N1,534.39 against the US dollar at the foreign exchange market on Monday, representing a 4.2% depreciation compared to the previous trading session.
This marks a return to the exchange rate observed on January 29. Meanwhile, at the Parallel Market, the Naira slightly increased to N1,495 per Dollar on Monday.
Central Bank of Nigeria Governor Olayemi Cardoso assured exchange rate stability during an interface with the Senate Joint Committee on Banking, Insurance, and Financial Institutions in Abuja on Friday.
