The naira strengthened slightly against the US dollar on Tuesday, closing at ₦1,595 per dollar in the parallel market, an improvement from ₦1,600 recorded on Monday. However, data from the Central Bank of Nigeria (CBN) showed that the official rate at the Nigerian Foreign Exchange Market (NFEM) remained unchanged at ₦1,550 per dollar. With this movement, the difference between the parallel market and the official rate dropped to ₦45, compared to ₦50 recorded the day before.
