Some ICT accessories traders in Yenagoa, the Bayelsa State capital have called on the federal government to address a galloping increase in the exchange rate of the naira against other hard currencies.
The traders in a chat with ait.live described the development as alarming and a reason for the prevalent increase in the cost of computers and ICT spare parts.
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In a market survey conducted at the Amarata area of Yenagoa, the hub of the ICT market in Bayelsa State, ICT merchants who spoke to ait.live urged the Federal Government, particularly the Central Bank, to do everything possible to tackle the free fall of the naira against other major currencies, in order to reduce the cost of imported ICT products.
The naira is currently #380.043 to the dollar having dropped from #410 recently.
Meanwhile, President Buhari has insisted that he would not give a directive for the Naira to be devalued.
(Editor: Abaje Usekwe)
