Nigerian Naira, on Thursday gained against United States dollar at the parallel market. The dollar which started the day at N500 early morning fell to about N470 by the afternoon.
This development saw many Nigerians rushing to the market to sell their foreign currency.
Traders say buyers are skeptical, while the market is full of speculations even though the Bureau de change operators have not started receiving supply from the Central Bank of Nigeria, CBN, as promised yet.
The market has witnessed strengthening of the Naira since early in the week. This is as the apex bank changed its policies in the supply of the foreign exchange.
On Tuesday about $500 million was released through the interbank market where the 23 banks bought $371m in the market.