The naira strengthened to ₦1,615 per US dollar in the parallel market yesterday, up from ₦1,620 per dollar recorded on Tuesday.
Similarly, the naira appreciated in the Nigerian Foreign Exchange Market (NFEM), trading at ₦1,564 per dollar compared to ₦1,579 per dollar the previous day.
Data released by the Central Bank of Nigeria (CBN) confirmed the naira’s gain of ₦15 against the dollar in the official market.
As a result, the gap between the parallel market rate and the NFEM widened to ₦51 per dollar, increasing from ₦41 per dollar reported the day before.