The naira recorded a modest appreciation on Monday, trading at ₦1,465 per dollar in the parallel market, up from ₦1,470 per dollar last weekend.
The local currency also strengthened at the Nigerian Foreign Exchange Market (NFEM), where it appreciated to ₦1,384.5 per dollar.
Figures released by the Central Bank of Nigeria (CBN) showed that the indicative exchange rate improved from ₦1,391 per dollar last weekend to ₦1,384.5 per dollar, representing a ₦6.5 gain for the naira.
Despite the gains, the gap between the parallel market and the official rate widened slightly to ₦80.5 per dollar, compared with ₦79 per dollar recorded on Thursday.