The naira yesterday strengthened in the parallel market, appreciating to N1,550 per dollar from N1,560 per dollar recorded last weekend. However, it weakened in the Nigerian Foreign Exchange Market (NFEM), where it traded at N1,534.8 per dollar, compared to N1,530 per dollar last Friday, reflecting a depreciation of N4.8. According to data released by the Central Bank of Nigeria (CBN), this development reduced the gap between the parallel market and NFEM rates to N15.2 per dollar, down from N30 per dollar the previous weekend.