UPDATE 2-Nigeria's naira eases sharply on official market after pressure to unify FX rate

(Updates with further details, background)
By Chijioke Ohuocha
ABUJA, July 7 (Reuters) - Nigeria's naira eased 5.5% on the
official market on Tuesday, after the central bank sold dollars
to lenders at a lower rate, bowing to pressure from
international lenders to unify its multiple exchange rates.
Nigeria has been under pressure from lenders such as the
World Bank and International Monetary Fund to merge its exchange
rates. The World Bank is expected to approve a $3 billion budget
support loan for Nigeria in the coming months. Finance Minister Zainab Ahmed has also pushed for uniform
rates to generate more naira from Nigeria's crude
receipts. The latest moves in the currency are the second adjustment
in six months. In March, the bank devalued the official rate by
15%.
On Tuesday, the naira eased to 380.50 in off-market trades,
from 360.50 close on Monday, traders said.
A central bank spokesman did not respond to a request for
comment.
No quotes for the naira were available on the official
market during regular trading for the second straight session,
Refinitiv Eikon data showed, after the central bank last week
depreciated the currency at an auction. The central bank, Nigeria's main forex supplier, asked
lenders on Friday to bid for dollars at 380 naira per dollar,
5.3% above its official rate. The naira traded at 387.70 on the over-the-counter spot
market, widely used by investors and importers, while it was
quoted weaker at 460 on the black market.
Nigeria has offered multiple foreign-exchange rates, which
it imposed to manage dollar demand after oil prices crashed. But
dollar shortages have followed, stifling growth.
The currency has come under pressure in recent months after
the coronavirus pandemic and a fall in the price of oil, which
caused the gap between the spot and black markets to widen.
Central Bank Governor Godwin Emefiele has said he would not
unify rates close to the black market level.