The Naira strengthened slightly in the Nigerian Foreign Exchange Market (NFEM), appreciating to ₦1,499/$1 from ₦1,500/$1 recorded last Friday.Data from the Central Bank of Nigeria (CBN) revealed that this marks a marginal gain of ₦1 for the local … Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader Naira gains ₦1, hits ₦1,499/$1 in official market By Busola Bamidele on March 4, 2025 The Naira strengthened slightly in the Nigerian Foreign Exchange Market (NFEM), appreciating to ₦1,499/$1 from ₦1,500/$1 recorded last Friday. Data from the Central Bank of Nigeria (CBN) revealed that this marks a marginal gain of ₦1 for the local currency. Read also: Naira gains ₦1, hits ₦1,499/$1 in official market Oba Elegushi allocates N200m to support SMEs FG's debt to NNPCL rises to N7.74tn amid FAAC revenue concerns Katsina Govt. seals agricultural partnership with OCP Africa FEC approves N2.5bn satellite technology to curb illegal mining However, the difference between the official rate and the parallel market widened, with the black market rate now standing at ₦11/$1 above the NFEM rate, compared to ₦5/$1 last weekend. This development highlights ongoing volatility in the foreign exchange market as economic stakeholders monitor the Naira's performance.

SMALL BUSINESS INSIGHTS © 2025. Manage your email settings or unsubscribe. Get the Jetpack app Subscribe, bookmark, and get real‑time notifications - all from one app! Automattic, Inc. 60 29th St. #343, San Francisco, CA 94110