The naira weakened further on Thursday, sliding to N1,565 per dollar in the parallel market, compared to N1,540 per dollar the previous day.
At the Nigerian Foreign Exchange Market (NFEM), the naira also depreciated, closing at N1,534 per dollar, according to data from the Central Bank of Nigeria (CBN). This represents a N3 drop from Wednesday’s official rate of N1,537 per dollar.
As a result, the gap between the parallel market and official exchange rates widened significantly, rising to N31 per dollar, up from N13 per dollar on Wednesday.