The naira weakened further on Friday, closing at N1,602.18 per dollar in the official market, according to data from the Central Bank of Nigeria. This marks a decline of N5.49, or 0.34%, from the previous rate of N1,596.69 recorded on Wednesday, April 30, ahead of the Workers’ Day holiday.
For three consecutive trading days—from April 28 to April 30—the naira had shown minor stability, trading at N1,599.95, N1,599.71, and N1,596.69, respectively. The local currency also began the week with a slight dip of 0.02%, eventually closing the week on a negative note.
