The naira weakened further in the parallel market on Wednesday, trading at N1,620 per dollar, down from N1,618 the previous day.
Conversely, the local currency appreciated in the Nigerian Foreign Exchange Market (NFEM), closing at N1,599 per dollar, according to data from the Central Bank of Nigeria (CBN).
This represents a N5 gain from the previous rate of N1,604 per dollar.
As a result, the gap between the official and parallel market rates widened to N21 per dollar, compared to N14 recorded on Tuesday.