The Naira on Monday slumped further at the parallel market as the greenback remained scarce.

The News Agency of Nigeria (NAN) reports that the naira lost N5 to exchange at N340 to the dollar, a depreciation of 1.5 per cent.

Over the weekend, the nation’s currency closed at N335 to the dollar.

Meanwhile, the official Central Bank of Nigeria (CBN) rate remained at N197 to the dollar.

Traders at the market decried the increasing fall of the nation’s currency, pointing out that the market had remained dull as the scarcity of the dollar stifles economic activities. (NAN)​

Can someone explain why this is happening to our beloved naira?

http://deedeesblog.com/2016/02/15/naira-slumps-to-n340-to-dollar-at-parallel-market/

hmmm, which way? some are shouting 'buy made in 9ja' but is that the solution? the Buhari led CBN policy will destroy the economy of this country. the major problem here is the law of demand & supply

It is happening because the stupid Central Bank Governor is refusing to un-peg the Naira and allow it to be devalued.

And Buhari, having little economic know-how trusts the Governor blindly.