The nation’s currency, the naira has continued to maintain steady depreciation against other major world currencies particularly the US dollar.The naira eased to its weakest level against the US dollar for two and a half months on Thursday as political uncertainty ahead of April elections contributes to strong forex demand.

The naira closed at N155.00 to the dollar on the interbank market compared to N154.36 at Wednesday's close, its weakest level since late December, dealers said.

Bureaux de change, which are licensed by the Central Bank of Nigeria (CBN), were selling dollars at N157.

Only on Wednesday, naira depreciated further against the US dollar on the interbank market after the CBN failed to meet all the demands for the greenback at its bi-weekly forex action. It sold at N154.36 to the dollar from N154.20.

At the bi-weekly foreign exchange auction, the apex bank sold $300 million at N150.79 to the dollar, short of the $370.67 million demanded and the $350 million sold at N150.68 at Monday's auction.

Traders said demand for dollars from gasoline importers might have aided naira’s weakness but this could be short-term.

"The upsurge demand for the dollar is cyclical and would soon ease as fuel importers conclude their order for this quarter," one trader said.