In the parallel market, the value of the Naira dropped from N1,530 to N1,550 per dollar on Tuesday to N1,550 yesterday.  

Similarly, on the Nigerian Foreign Exchange Market (NFEM), the value of the naira dropped to N1,537 per dollar.  

According to data released by the Central Bank of Nigeria (CBN), the naira depreciated by N4.5 after rising to N1,537 per dollar from N1,532.5 per dollar on Tuesday.  

As a result, the gap between the NFEM rate and the parallel market increased from N2.5 to N13 per dollar the day before.

Source