The naira weakened further in the parallel market on Tuesday, sliding to ₦1,485 per dollar, down from ₦1,475 recorded on Monday.
Despite the dip on the street market, the local currency held firm at ₦1,454 per dollar on the Nigerian Foreign Exchange Market (NFEM), according to figures published by the Central Bank of Nigeria (CBN).
With both markets moving in opposite directions, the gap between the parallel market and the NFEM widened to ₦31 per dollar, up from ₦21 per dollar the previous day.
The widening spread signals renewed pressure in the informal FX market even as the official window maintains relative stability.
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