Naira gains value against dollar for second consecutive day

The Naira has recorded a second straight day of appreciation against the US dollar.

Checks at several Bureau de Change Operators in Abuja indicated that the Naira exchanged for between 750 and 790 to a dollar.

This was against the 935 and 920 it exchanged for on Monday and Tuesday.

The rise in the value of the local currency comes on the heels of the meeting between President Bola Ahmed Tinubu and the acting CBN Governor, Mr. Folasodun Shonubi on the valuation of the currency.

The CBN had in June implemented an harmonization of exchange rates with a view to restore efficiency to the forex market.

This was however greeted with a free fall of the naira at the parallel market owing to speculative activities while the rate on the official investor and export window has remained fairly stable at 785 naira to the dollar as at close of trade yesterday.

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