The Naira showed slight improvement against the Dollar, trading at ₦1,536.82 per Dollar in the official market on Friday, March 28, 2025, up from ₦1,538.66 the previous day. However, in the black market, the USDT is still selling as high as ₦1,550 per Dollar.
Despite the Central Bank of Nigeria’s (CBN) decision to unify all forex markets, the Naira continues to fluctuate. The CBN had earlier announced that all foreign exchange transactions would now take place under the Investors and Exporters (I&E) window, allowing buyers and sellers to trade freely. The bank also stated that government-related transactions would follow the weighted average rate of the previous day’s trades.
This new policy means the Naira is now floating freely, with its value determined by market forces. While this system aims to improve transparency and accessibility, exchange rates remain unpredictable, especially in the parallel market.
