Nigerian Naira Weakens Against Dollar in Official and Black Markets

The Nigerian Naira has weakened against the Dollar in both official and black markets, with the Naira depreciating by N3.67 to 0.25 against the Dollar. The Naira also lost ground against the Euro and slightly strengthened against the Pound Sterling.

The Central Bank of Nigeria attributes the pressure on the Naira to thin U.S. Dollar inflow, export, and the absence of immediate intervention.

Despite seasonal foreign exchange pressure, CBN's ongoing support has helped maintain the Naira within a stable trade range. The Senate has approved CBN's exchange rate projection for 2026 as part of the fiscal strategy paper.