Naira to Dollar Exchange Rate Gap Widens in Nigeria's Markets

The Naira to Dollar exchange rate gap widens in Nigeria, with the unofficial rate hitting N1,490 per dollar in the black market. The Central Bank of Nigeria (CBN) has granted final licenses to 82 Bureau de Change operators to operate in the market.

Despite slight appreciation in the official window, the Naira continues to face pressure due to strong demand outweighing supply. Analysts highlight both domestic and external factors impacting the currency's stability, with risks putting further pressure on the Naira in 2026.