Business News
Naira weakens to N1,410/$ in parallel market
The naira recorded fresh losses against the United States dollar on Thursday, depreciating in both the parallel market and the Nigerian Foreign Exchange Market (NFEM).
In the parallel market, the local currency weakened to N1,410 per dollar, compared to N1,406 per dollar recorded on Wednesday.
The naira also lost value in the official market, with figures released by the Central Bank of Nigeria (CBN) showing that the indicative exchange rate rose to N1,368.5 per dollar from N1,366.5 per dollar the previous day.
The movement represents a N2 depreciation in the official exchange rate, reflecting continued pressure on the Nigerian currency across both foreign exchange markets.
Consequently, the margin between the parallel and official markets widened to N41.5 per dollar from N39.5 per dollar on Wednesday.
The interbank turnover at NFEM fell by 4.3 percent to N58.4 million yesterday from N61.03 million on Wednesday.
Follow Us on Google Discover
APM, Makinde sue Otti over alleged N200m campaign levy in Abia
‘Why are afraid of entering America?’, Atiku blasts Tinibu for missing third consecutive UNGA
Gunmen storm Kebbi community, kill village head
Former Kogi Gov Ibrahim Idris dies in UK
NDLEA seizes N3.4bn drugs, nab fake cop, mechanic
Falconets crash out of 2026 U-20 Women’s World Cup after 1-0 loss to Colombia
BREAKING: Tinubu confirms absence from 81st UN General Assembly in New York, directs Shettima to lead Nigerian delegation
2027: ‘Obi will defeat Tinubu by a wider margin in Lagos’ — NDC
NDC disowns OK Movement campaign council, refers John Ugulu for discipline
Raphinha set to sign new Barcelona contract until 2030
Four Nigerians receive UNGA Humanitarian, Goodwill Ambassador honours in New York
‘We Won’t Go Back to Egypt’ — Showunmi rejects Atiku’s petrol subsidy proposal
NSCDC names new Niger commandant following death of miners in custody
ECOWAS court set to hold 2026 international conference in Dakar
Nigerians already seeing reductions in transport fares – Tinubu
BREAKING: Tinubu confirms absence from 81st UN General Assembly in New York, directs Shettima to lead Nigerian delegation
Nigerians already seeing reductions in transport fares – Tinubu
Tinubu may shun UN General Assembly in New York – Fresh details emerge
‘Before lecturing Tinubu, you must answer questions from your past’ — Presidency to Atiku
‘We Won’t Go Back to Egypt’ — Showunmi rejects Atiku’s petrol subsidy proposal
Deji Adeyanju, Buhari others appointed as FG constitutes committee to probe NSCDC custody deaths (Full List)
‘The Site Belongs To Babangida’ – Survivor links deaths of miners in NSCDC custody to ex-Military Ruler
PL: Brighton thrash Arsenal 3-0, end Gunners’ winning run
Four Nigerians receive UNGA Humanitarian, Goodwill Ambassador honours in New York
Raphinha set to sign new Barcelona contract until 2030
Why EFCC must prosecute Atiku – Agbonayinma
ECOWAS court set to hold 2026 international conference in Dakar
NSCDC detains suspended Niger commandant, 21 officers over deaths of 37 miners
Sowore as best president Nigeria refuses to have: by Farooq A. Kperogi