By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)- The naira on Thursday reported a new record low as it traded N235 to a dollar on the parallel (black) market N1.50 down on the day, as dollar shortages persist, a Reuters report quoted a trader as saying.  

According to the report, Aminu Gwadabe, president of Nigeria’s Bureau de Change association said that people were holding dollars to protect themselves against further naira weakness.

The Central Bank of Nigeria (CBN) in its usual email statement said the naira’s interbank closing rate was N196.95 compared to the greenback.