The naira weakened on Friday at the official market, closing at ₦1,602.18 per dollar, according to data from the Central Bank of Nigeria. This reflects a ₦5.49 drop, or a 0.34 per cent decline, compared to the ₦1,596.69 rate recorded on Wednesday, April 30, ahead of the Workers’ Day holiday on May 1.
The naira held relatively steady over three consecutive trading days—from Monday, April 28, to Wednesday, April 30—trading at ₦1,599.95, ₦1,599.71, and ₦1,596.69, respectively. However, the local currency ended the week on a downward trend, having started the week with a slight decline of 0.02 per cent.
Fatimah Quadri is a Journalist and a Fact-checker at The ICIR. She has written news articles, fact-checks, explainers, and media literacy in an effort to combat information disorder.
She can be reached at sunmibola_q on X or fquadri@icirnigeria.org