Dwindling Naira Falls Again To N221 - $1

The Nigerian naira who recorded post election gains immediately President Jonathan conceded defeat to Gen. Buhari has failed to hold on to its strong gains. The naira on Tuesday at the parallel market in Abuja and Lagos sold for between N221.5 and N222 to $1 USD. Dealers who spoke to correspondents blamed the fall of the currency on heavy demand for dollars by members and associates of the outgoing administration who are mopping up Forex.