Nigerian Naira Gains Against US Dollar, World Bank Praises CBN's Efforts

The Nigerian Naira has shown strength against the US Dollar in the foreign exchange market, with the World Bank commending the Central Bank of Nigeria (CBN) for achieving stability. The Naira appreciated against major currencies like the British Pound and Euro.

The World Bank urged the Nigerian government to focus on long-term foreign exchange inflows and implement transparent FX policies. CBN's reserves have crossed $41 billion, enhancing its ability to defend the Naira.