NAIRA IS LOSING GROUND AGAINST THE DOLLAR

On Friday, the open indicative rate was N433.83 to the dollar.

The highest rate recorded during the day's trading was N437 to the dollar before it settled at N436.33.

During the day's trading, the Naira sold for as little as N425 to the dollar.

On Friday, a total of 66.02 million dollars were traded at the official Investors and Exporters window.

Meanwhile, Nigeria's commercial banks have openly declared that the monthly limit on international transactions using naira debit cards has been reduced to $20.

This comes as a long-standing foreign exchange shortage continues to sting Nigeria, Africa's largest economy and largest oil exporter, despite a recent surge in global energy prices.

The naira fell slightly against the dollar on Friday, trading at N436.33 versus N436.32 on Thursday.