On official parallel markets, the naira fell against the US dollar. According to data on the FMDQ website, the national currency depreciated by 0.29%, closing at 430.25 nairas to the dollar at the close of business on Thursday.

The Nigerian currency peaked at N415.00 and fell to a low of 444.00 nairas before closing at 430.25 nairas, with $58.39 million recorded as foreign exchange supply during this period.

Similarly, the naira weakened further on the unauthorized foreign exchange market on Thursday, despite a crackdown on exchange operators hoarding the greenback by the ; EFCC on July 29.

On the unauthorized market in Abuja on Thursday, exchangers said the dollar had been traded at 680.00 naira and sold for 683.00 naira 675.00 naira traded during the previous session on Wednesday.