At the black market, the Naira depreciated against the dollar to close at N487/$1 on Wednesday.
The naira hit another new low as it depreciated again against the dollar, closing at N484/$1 at the parallel market.
The BDC operators said that the profit margin would not be enough to cover their expenses.
Gwadebe said that the pandemic caused supply disruptions as the price of crude oil went down.
Over 100 Bureau De Change Operators were fined N5 million by the Central Bank of Nigeria for various infractions in the foreign exchange market.
The severe pressure on Nigeria’s foreign exchange market has led to significant depreciation of the Naira across all the market segments.
