The naira strengthened on Friday, trading at N1,545 per dollar in the parallel market, up from N1,552 per dollar on Thursday. Likewise, it appreciated in the Nigerian Foreign Exchange Market (NFEM), closing at N1,531 per dollar, compared to N1,533 per dollar the previous day, according to data from the Central Bank of Nigeria (CBN). This reflected a N2 gain for the local currency. As a result, the gap between the parallel market and NFEM rates narrowed to N14 per dollar, down from N19.80 per dollar on Thursday. Overall, the naira advanced by N5.9 in the official market during the week but slipped by N5 in the parallel market.