Naira Slumps Against Dollar at Official, Parallel Markets

The naira declined against the dollar in both the official and parallel foreign exchange markets, closing the week with a downward trend.

According to FMDQ data, the naira slightly weakened to N1,541.68 per dollar on Friday, compared to N1,541.38 on Thursday, reflecting a loss of N0.3.

EDITOR’S PICKS 

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• Fatal Crash on Lagos Third Mainland Bridge; Four Rescued, Two Injured in Fadeyi Collision

In the parallel market, the naira ended at N1,775 per dollar on Friday, up from N1,768 on Thursday.

Despite this, EKO HOT BLOG notes that the naira experienced more gains than losses during the week under review.

FURTHER READING

• Bromate In Bread Linked To Cancer Risk For Nigerians – What You Should Know
• One Killed, Four Injured in Bus-Truck Collision on Lagos Third Mainland Bridge
• Sanwo-Olu Donates N75M to Support Legionnaires and Families of Fallen Heroes

Meanwhile, President Bola Ahmed Tinubu on Wednesday announced a foreign exchange benchmark of N1,500 per dollar for 2025.

Here’s the video of the week: