UPDATE 2-Nigeria's naira slides on official market on plan to align exchange rates

(Updates with finance ministry document, naira rate)
By Chijioke Ohuocha
ABUJA, June 17 (Reuters) - Nigeria's naira opened 6.2% lower
against the U.S. dollar on the official market on Wednesday as
traders quoted the currency close to the over-the-counter spot
market rate on indications the government would move to conserve
dwindling reserves.
In a finance ministry document seen by Reuters on Wednesday,
the Minister of Finance Zainab Ahmed said the government would
seek to unify the exchange rates to generate more naira from its
foreign inflows and manage the rate in a sustainable manner.
It would also direct oil firms to sell dollars to the
central bank as opposed to the state-owned petroleum corporation
NNPC, Ahmed said, adding that the government would deregulate
petroleum prices as part of measures to safeguard oil revenues.
The policies will be implemented over a 12 month period, the
document said.
The naira NGN=D1 traded at 385 per dollar on the official
market, supported by the central bank on Wednesday, before
recovering to 361, where it closed on Tuesday, data from
Refinitiv Eikon showed.
The central bank did not immediately respond to a request
for comment.
Nigeria, Africa's largest economy, has operated a multiple
exchange rate regime used by the central bank to manage pressure
on the naira. But dollar shortages have plagued the economy
after the coronavirus-induced oil price crash slashed government
revenues and weakened the local currency.
The currency has been hitting new lows on the black and
over-the-counter spot markets since March after the central bank
adjusted its official rate, implying a 15% devaluation.
The naira was quoted at 452 on the black market on
Wednesday, while the longest five-year currency futures contract
quoted it at 578.69.