ABUJA, Nov 16 (Reuters) – Nigerian naira eased to its lowest in 12 weeks on the black market on Monday after the currency fell 1.05% against the U.S. dollar as dealers funnelled unmet demand from official sources to the parallel market, traders said.

The currency eased to 475 naira per dollar on Monday, a level last seen in August. It traded at 465 naira a week earlier as demand pressure resurfaced in the wake of dollar shortages in the economy. (Reporting by Chijioke Ohuocha; Editing by Toby Chopra)