The naira suffered a substantial decline in value against the dollar by the close of trading on Friday, 4th April 2025.
Data from the Central Bank of Nigeria (CBN) revealed that the naira soared to N1,567.02 per dollar on the Nigeria Foreign Exchange Market (NFEM).
This represented a notable shift from the local currency’s value following the Salah break on Wednesday, when it exchanged at N1,531.25 per dollar.
However, this temporary gain was rapidly diminished on Thursday, as the naira fell to N1,552.53 per dollar.
In the parallel market, commonly known as the black market, the naira displayed no significant fluctuations, remaining stable at N1,560 per dollar—a rate it had sustained for several days.
