Naira trades at N318/dollar on Monday morning

The Nigerian currency appreciated a little bit against the American dollar on Monday morning, barely days after the 2016 budget was signed into law. There had been widespread expectations surrounding the Nigerian currency especially following the reluctance of the presidency to sign the 2016 budget into law as there were observations of several anomalies in the document. And on Friday, May 6, President Muhammadu Buhari finally signed the budget into law amid mixed reactions from Nigerians.

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