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Five months after taking over, President Bola Tinubu had vowed to clear the foreign exchange backlogs he inherited. The naira has appreciated at the official and parallel markets following the clearance of all foreign exchange (FX) backlog by the Central Bank of Nigeria (CBN).According to data compiled from the FMDQ Securities Exchange, the naira closed trading at ₦1,410/dollar at the parallel market and ₦1,492 at the official Nigerian Autonomous Foreign Exchange Market (NAFEM) on Wednesday. The Naira’s gain at the official market indicates a 4.55% increase from the ₦1,560/$1 recorded the prev…

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