Te naira weakened slightly on Tuesday, falling to ₦1,457 per dollar in the parallel market, compared to ₦1,455 recorded on Monday.
In the Nigerian Foreign Exchange Market (NFEM), the local currency also slipped to ₦1,441.75 per dollar, down from ₦1,438 the previous day, according to figures released by the Central Bank of Nigeria (CBN).
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This represents a ₦3.75 depreciation in the official rate. As a result, the gap between the parallel market and the official exchange rate narrowed to ₦15.25 per dollar, down from ₦17 recorded on Monday.
