Naira Strengthens to N1,341.99/$, Highest Since February

The Naira has strengthened to N1,341.99 per dollar, achieving its strongest level since February 18, 2026, when it traded at N1,340. According to data from the Central Bank of Nigeria (CBN), this recent performance indicates a steady appreciation from N1,358 on Monday and N1,348 on Tuesday.

The Naira's consistent gains throughout the week reflect improved market sentiment and suggest a short-term recovery in its value, contrasting with previous volatility. Forex traders noted that the divergence between official and black market rates is driven by speculative activity and weak liquidity in the retail end market.

Experts assert that resolving this disparity will require an increase in foreign exchange inflows and improved policy clarity to ensure broader access to foreign exchange across market segments. Global developments, including energy market dynamics and geopolitical tensions, continue to influence currency movements, contributing to the Naira's recent strengthening.