In the parallel market, the value of the Naira dropped from N1,655 to $1 on Monday to N1,660.
However, on the official foreign exchange market, the value of the Naira increased to N1,549 per dollar.
According to data released by the Central Bank of Nigeria (CBN), the value of the naira increased by N1, as the Nigerian Foreign Exchange Market (NFEM) exchange rate dropped from N1,550 to N1,549 per dollar on Monday.
As a result, the difference between the NFEM rate and the parallel market increased from N105 to N111 per dollar on Monday.