The Naira Monday appreciated to N1,480 per dollar in the parallel market, strengthening from N1,490 per dollar recorded last weekend.
Similarly, in the Nigerian Foreign Exchange Market (NFEM), the local currency also gained value, trading at N1,464 per dollar.
According to data released by the Central Bank of Nigeria (CBN), the exchange rate for the naira improved from N1,469 per dollar last Friday to N1,464 per dollar, reflecting a N5 appreciation against the US dollar.