Nigeria, Feb. 3 -- Data from the Central Bank of Nigeria confirms the gain, extending the currency's steady recovery from late January.



The move represents a modest improvement from the N1,391 closing level at the end of January and points to a calmer start to the new month for the foreign exchange market.

Compared with early 2025, when volatility dominated trading, the naira is beginning February from a noticeably stronger position.



The News Chronicle understands that a key development drawing attention is the continued narrowing gap between the official and parallel markets.

While the naira traded around N1,453 to the dollar in the street market at the start of February, the spread to the official rate has tightened further, ...