Business News
Naira slumps to ₦1,410/$ in parallel market, weakens at official window
The naira depreciated to ₦1,410 per dollar in the parallel market on Thursday, down from ₦1,405 per dollar recorded on Wednesday.
The local currency also weakened in the Nigerian Foreign Exchange Market (NFEM), where it closed at ₦1,365.5 per dollar.
Data released by the Central Bank of Nigeria (CBN) showed that the indicative exchange rate at the official market rose to ₦1,365.5 per dollar from ₦1,361.5 per dollar on Wednesday, representing a ₦4 depreciation for the naira.
As a result, the gap between the parallel market and the official market widened to ₦44.5 per dollar from ₦43.5 per dollar recorded the previous day.
Meanwhile, activity at the official foreign exchange market declined, with interbank turnover at the NFEM falling by 28.8 per cent.
Market data showed that turnover dropped to $54.3 million on Thursday from $69.92 million recorded on Wednesday, reflecting lower trading volumes in the official market.
Follow Us on Google Discover
BREAKING: Premier League announces 2026/27 opening-day fixtures
French court confirms trial for PSG star Hakimi in rape case
‘Provide evidence’ – Gwarzo dares Kano Govt to prove alleged diversion of LG funds through son
Naira slumps to ₦1,410/$ in parallel market, weakens at official window
FG approves ₦83.21bn to tackle flooding across states in Nigeria
Information Minister, NSA push national security communication framework
IPOB sacks supreme leader Nnamdi Kanu, shuts down office indefinitely
‘You Are Shameless’ — ADC slams APC for praising Tinubu, Wike over Judges’ Quarters
Okpebholo unveils special courts, threatens public hanging for convicted kidnappers in Edo
Former INEC Chairman Mahmood Yakubu assumes duty as Nigeria’s Ambassador to Qatar
World Cup hopes dampened as South Africa draws 1–1 with Czechia
Xenophobia: FG considers tough measures against MTN, Multi choice, other South African firms operating in Nigeria
JUST-IN: Tinubu appoints Kunle Elebute as chairman Financial Reporting Council
Court of Appeal clears Oyebanji, ends APC nomination dispute ahead of Ekiti poll
Ekiti Poll: INEC distributes sensitive materials, assures credible election
BREAKING: UK court clears, acquits Nigeria’s ex-petroleum minister Alison-Madueke of all corruption charges
Bandits attack burial ceremony in Kaduna, kill two mourners, injure many others
‘I can’t marry a Nigerian’ — DJ Cuppy opens up on dating struggles
IPOB sacks supreme leader Nnamdi Kanu, shuts down office indefinitely
UK Court sentences Nigerian student to 5½ Years for attempted rape
You embarrassed Nigeria globally’ — Popular APC praise singer Rarara attacks Davido
Governors’ forum endorse state police, seek constitutional protection
I won’t retract, your N5bn defamation threat won’t silence me — Kenneth Okonkwo to Peter Obi
PDP hands Ogun Central Senate ticket to Iyabo Obasanjo after return from APC
NDC exempts Obi, Kwankwaso from Anti-defection oath
David Mark, Aregbesola lead ADC mega rally in Ekiti, say APC must go
US, Iran reach breakthrough agreement as Trump, Pezeshkian sign peace pact
Nine feared dead, 11 injured as gunmen raid Kaduna community
Emir Sanusi raises concerns over El-Rufai’s bail conditions
