The naira strengthened in the parallel market on Monday, appreciating to ₦1,470 per dollar from ₦1,476 recorded over the weekend.
However, at the Nigerian Foreign Exchange Market (NFEM), the naira experienced slight pressure, weakening to ₦1,450/$ compared to ₦1,446.9/$ last weekend, according to fresh data released by the Central Bank of Nigeria (CBN).
This reflects a ₦3.1 depreciation at the official window.
With these movements, the exchange rate gap between the parallel market and the NFEM further narrowed to ₦20, down from ₦29.1 recorded last Friday — indicating continued alignment between both markets as liquidity conditions improve.
