Nigeria, Sept. 17 -- Naira fell profoundly against the U.S. dollar at both the official and unofficial market segment on Thursday.

According to abokiFX.com, a website that collates the parallel market rates in Lagos, the local unit closed at N570 per $1 on Thursday.

This represents a N8.00 or 1.42 per cent devaluation from the N562 rate it exchanged on Wednesday. It was the biggest single day plunge in several months.

The currency has maintained continuous decline at the parallel market for eight straight trading days. On Thursday, it opened at N562 per $1 in the morning, rose to N565 at noon, before closing at N570.

Similarly, the domestic unit saw a significant decline against the U.S. dollar at the official market on Thursday as fo...