Naira Falls Against Dollar in Official and Black Markets After Easter Holidays

The Nigerian naira weakened against the US dollar in both the official and parallel markets as trading resumed after the Easter holidays.

According to data from the Central Bank of Nigeria, the naira dropped to ₦1,602.63 per dollar on Tuesday, compared to ₦1,599.93 on the preceding Thursday—reflecting a ₦2.70 depreciation.

Similarly, in the parallel (black) market, the naira slid to ₦1,620 per dollar on Tuesday, down from ₦1,610 over the weekend. This mirrors the exchange rate recorded on the Thursday before Easter.

The naira’s decline coincides with continued volatility in the global forex market, driven in part by the ongoing slump in the US dollar amid concerns over the Federal Reserve’s independence and escalating tariff tensions.