The Naira saw a significant drop against the dollar in the official foreign exchange market on Friday, closing the week on a negative note.

According to data from the Central Bank of Nigeria, the Naira fell to N1,602.18 per dollar on Friday, down from N1,596.68 on Thursday. This shows a daily decline of N5.492, marking the biggest drop since April 22, 2025.

In contrast, the Naira gained N3 at the black market on Friday, rising to N1,605 per dollar from the previous rate of N1,608.

Overall, the Naira has been fluctuating against the dollar in both official and black markets.