LAGOS: Nigeria's naira firmed to close at 281.50 to the dollar on Wednesday, its first daily gain since the central bank ditched its 16-month old peg on the currency on Monday.

The naira, which slumped 30 percent at its float on Monday, has traded as weak as 285 to the dollar.

It firmed on Wednesday following a central bank dollar sale to improve dollar liquidity.

Copyright Reuters, 2016