At the official market, the naira rises 6% versus the dollar

Yemi Cardoso, the governor of the CBN, justified the action as a response to the nation's rising inflation.By the end of Wednesday's trading session, the naira had gained 5.97 percent versus the US dollar in the official market, based on data from the FMDQ trading platform.The value of one dollar increased by ?82.52 to ?1,300, from ?1,383 on Tuesday.Total turnover also rose to $416.10 million from $245.58 million the previous day. In the Investor’s and Exporters (I&E) window, the naira fluctuated between ?1,460 and ?1,200 against the dollar.