Nigerian Naira Appreciates by 0.25% Against US Dollar in One Week
The Nigerian Naira appreciated by 0.25% against the US Dollar in a week, reaching N1,417.95 on January 16, 2026. The strong performance was attributed to increased dollar supply, keeping trade within a narrow range.
Despite no visible intervention from the Central Bank of Nigeria (CBN), the Naira closed the week at N1,417.95. Analysts like Chukwuebuka Alozi cautioned that the Naira remains vulnerable to shifts in dollar inflows, particularly from oil exports and import demands.
Additionally, data from the CBN showed a decline in reserves to $45.21 billion by December 17, 2025.
Plus234Feed summary based on reporting from Legit.ng. Read the original report below.
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