Posted 3/14/2024, 1:57:43 PM
Tinubu Reopens Borders to Niger; Naira Rates Converge But Dollar Shortages Persist
- Naira closed at N1,615 to dollar across all markets after Tinubu opened borders
- Official and parallel markets reached rate convergence at N1,615.94 and N1,615.93 per dollar
- Tinubu ordered reopening of land and air borders with Niger Republic
- Dollar supply rose considerably but was insufficient to support naira
- Immigration Comptroller-General directed compliance with Tinubu's border reopening directive
