Nigeria’s naira eased by 6.2% against the U.S. dollar on the official market on Wednesday after the government moved to converge its multiple exchange rate regime, traders said.

The naira opened for trade at 385 per dollar on the market, supported by the central bank. It closed at 361 at its previous close, data from Refinitiv Eikon showed.

Traders said the government wants to generate more naira in exchange for dollars it earns from the sale of crude oil, Nigeria’s main export and sought to converge the currency to the over-the-counter spot market, where its trades more weakly.

The naira has been hitting new lows on the black and over-the-counter spot markets since March after the central bank adjusted its official rate, implying a 15% devaluation.

The central bank did not immediately respond to a request for comment.

Add TheNigeriaLawyer On Google News ______________________________________________________________________ ARTIFICIAL INTELLIGENCE FOR LAWYERS: A COMPREHENSIVE GUIDE Reimagine your practice with the power of AI “...this is the only Nigerian book I know of on the topic.” — Ohio Books Ltd Authored by Ben Ijeoma Adigwe, Esq., ACIArb (UK), LL.M, Dip. in Artificial Intelligence, Director, Delta State Ministry of Justice, Asaba, Nigeria. Bonus: Get a FREE eBook titled “How to Use the AI in Legalpedia and Law Pavilion” with every purchase.

How to Order: 📞 Call, Text, or WhatsApp: 08034917063 | 07055285878 📧 Email: benadigwe1@gmail.com 🌐 Website: www.benadigwe.com

Ebook Version: Access directly online at: https://selar.com/prv626

______________________________________________________________________ New Year Promo: Get Five Maritime Law Books For N150,000 — 63% Discount The promotion, which commenced on January 8 and runs until February 8, 2026, offers five core maritime law books authored by Dr. Emeka Akabogu, SAN, ordinarily valued at N405,000, for just N150,000 — a 63% discount. Interested buyers can place their orders through the following channels: Phone: 0704 329 3271 Online Store: https://paystack.shop/aa-bookstore Website: www.akabogulaw.com ______________________________________________________________________ [A MUST HAVE] Evidence Act Demystified With Recent And Contemporary Cases And Materials
“Evidence Act: Complete Annotation” by renowned legal experts Sanni & Etti.
Available now for NGN 40,000 at ASC Publications, 10, Boyle Street, Onikan, Lagos. Beside High Court, TBS. Email publications@ayindesanni.com or WhatsApp +2347056667384. Purchase Link: https://paystack.com/buy/evidence-act-complete-annotation ________________________________________________________________________ The Law And Practice Of Redundancy In Nigeria: A Practitioner’s Guide, Authored By A Labour & Employment Law Expert Bimbo Atilola _______________________________________________________________________