The Naira weakened further to N158:20 kobo to the dollar at the interbank on Thursday.

Dealers attributed the drop to increased demand for the greenback by importers which put pressure on the local currency.

At its bi-weekly wholesale Dutch auction system on Wednesday, the Central Bank of Nigeria offered $300 million to 17 lenders but sold only $207.6 million at N155:74 kobo per dollar.

On Monday the regulator also offered $300 million but sold $293.8 million at N155:75 kobo.