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The naira continued its decline against the dollar at the official foreign exchange market on Monday.
FMDQ data showed that the naira weakened to N1,548.89 against the dollar on Monday from N1,543.03 exchanged last week Friday.
This indicated that the naira fell by N5.86 compared to N1,543.03 traded at the close of last Friday.
Similarly, on the black market, the naira closed at N1,667 per dollar on Monday from N1,665.
However, the naira had been fairly stable between N1,545 and N1,660 per dollar at the official and parallel foreign exchange markets, respectively.
Last week, the Central Bank of Nigeria unveiled the Non-Resident Nigerian Ordinary Account, NRNOA, and the Non-Resident Nigerian Investment Account, NRNIA, to boost diaspora remittances.
In another news, the Economic and Financial Crimes Commission, EFCC, has invited Subomi and Wahab, the sons of billionaire businessman Razaq Okoya, for interrogation over alleged abuse of the naira.
The Eastern Updates had reported that the Okoya brothers were in the news a few days ago after a video clip capturing them “abusing” the naira surfaced on the internet.
The police officer who was also seen in the viral video has been identified and detained by the Nigeria Police Force.
There has been outrage on social media following the delay in the arrest of the two brothers.
An activist lawyer, Deji Adeyanju, posted on his Facebook page on Saturday, saying:
“The Okoya sons are above the law. A country of two laws — one for the poor and the other for the rich.”
