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The naira weakened in the official market, On Monday, trading at N1,498.98 per dollar.
According to the Central Bank of Nigeria, the naira depreciated by N6.49.
This marks a 0.43 percent drop compared to Friday's closing rate of N1,492.49 per dollar.
The decline came after a three-day period of appreciation noted the previous week.
Nonetheless, the naira has remained fairly stable against the U.S. dollar, thanks to the CBN’s initiatives aimed at enhancing transparency in the foreign exchange market.
Experts continue to praise the CBN for the local currency's consistent advancement since December 2024.
