The development comes despite CBN on Wednesday announcing that the country recorded a balance of payments surplus of $6.83 billion and a surge in diaspora remittances to $20.93 billion in 2024.
The naira weakened against the dollar on Wednesday, falling to N1,628.93 at the official market and N1,620 at the parallel market, following US President Donald Trump’s 90-day global tariff pause.
The Central Bank of Nigeria’s data showed a N17.38 drop from Tuesday’s rate of N1,611.55, reversing a brief 0.60 kobo gain.At the black market, the naira dipped to N1,620/from N1,575 as demand surged.