The naira appreciated yesterday, strengthening to N1,615 per dollar in the parallel market, up from N1,620 per dollar on Tuesday. Similarly, in the Nigerian Foreign Exchange Market (NFEM), the naira gained value, trading at N1,564 per dollar. According to data from the Central Bank of Nigeria (CBN), the official exchange rate improved from N1,579 to N1,564 per dollar, reflecting a N15 appreciation. As a result, the gap between the parallel market and the NFEM rate widened to N51 per dollar, compared to N41 per dollar the previous day.