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    Naira Gains Slightly, Closes at ₦1,560/$ in Parallel Market Today August 2, 2025

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    The Naira appreciated to ₦1,560 per dollar in the parallel market as at close of work on Friday, up from ₦1,565 per dollar the previous day.

    In the Nigerian Foreign Exchange Market (NFEM), the naira also appreciated, closing at ₦1,534 per dollar.

    However, data from the Central Bank of Nigeria (CBN) indicated that the official exchange rate rose slightly to ₦1,535.5 per dollar from ₦1,534 per dollar on Wednesday, reflecting a minor depreciation of ₦1.5.

    As a result, the gap between the parallel market and the NFEM rate narrowed to ₦24.5 per dollar, compared to ₦31 per dollar on Thursday.

    This week, the parallel market experienced a ₦30 depreciation overall, while the previous week saw a marginal gain of 50 kobo. In contrast, the official market recorded no significant movement in the naira’s value throughout the week.

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    L–R: Secretary, Nigerian Communications Commission (NCC), Gwa Mohammed; Chief Executive Officer, Ministry of Finance Incorporated, Dr. Armstrong Takang; Executive Vice Chairman/Chief Executive Officer, NCC, Dr. Aminu Maida; Coordinating Director, Financial Reporting Council of Nigeria, Mr. Titus Osawe; Executive Commissioner, Stakeholder Management, NCC, Rimini Makama; Professor of Corporate Governance, Lagos Business School, Fabian Ajogwu, SAN, during the workshop/formal launch of Guidelines on Corporate Governance For Nigerian Telecommunications Industry hosted by the Commission in Lagos recently. L–R: Secretary, Nigerian Communications Commission (NCC), Gwa Mohammed; Chief Executive Officer, Ministry of Finance Incorporated, Dr. Armstrong Takang; Executive Vice Chairman/Chief Executive Officer, NCC, Dr. Aminu Maida; Coordinating Director, Financial Reporting Council of Nigeria, Mr. Titus Osawe; Executive Commissioner, Stakeholder Management, NCC, Rimini Makama; Professor of Corporate Governance, Lagos Business School, Fabian Ajogwu, SAN, during the workshop/formal launch of Guidelines on Corporate Governance For Nigerian Telecommunications Industry hosted by the Commission in Lagos recently.

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