CBN plans to start a bi-weekly auction of the Chinese currency to deposit banks and merchant banks. Although Nigeria-China trade has grown exponentially over the last few decades, the trade relations have remained disproportionately in favour of China. Below is the Ventures Africa Weekly Economic Index, for the week ending 8th of June 2018. In the week under review, the Naira’s value declined slightly against the Dollar in the parallel market. It was sold at N361/$ on Friday 8th of June 2018, a decrease from the value recorded on the 1st of June 2018.

Source: The North Africa Journal June 11, 2018 14:22 UTC