Nigerian Naira Surges to Highest Level Since 2024, Market Confidence Grows

The Nigerian Naira has experienced a significant appreciation, reaching its highest level since 2024. The official and parallel markets saw a surge in the exchange rate post-Independence Day celebrations.

The currency's performance has been attributed to increased market turnover and growing investor confidence, supported by optimistic inflation expectations. The Central Bank of Nigeria's Monetary Policy Committee members are hopeful that the Naira's appreciation trend will continue in the coming weeks.

Governor Yemi Cardoso disclosed that Nigeria's gross external reserves stood at $ billion as of September 11, 2025, reflecting a positive economic outlook.