The Naira closed the week marginally weaker against the US dollar, ending Friday at N1,455.50/$1 at the official foreign exchange market.
According to data on the Central Bank of Nigeria’s (CBN) website on Friday, this represents a slight depreciation compared to Thursday’s closing rate of N1,455.25/$1.
It also marks a softer finish relative to last week’s close of N1,454/$1.
This means that throughout the week, the naira traded above N1,450/$1. This is a trend not seen in over three weeks.
Nairametrics reports that this was the trend between November 18 and 22 when the naira traded between N1,451 and N1,458/$1 during the trading week.
Comparison with last week
In the previous trading week, the Naira opened at N1,450.01/$1 on Monday, appreciated slightly to N1,447/$1 on Tuesday, then hovered around N1,447.5/$1 on Wednesday. However, it fell to N1,449/$1 on Thursday before ending the week at N1,454/$1.
This week’s movement shows relative stability but highlights persistent pressure on the currency despite improving macroeconomic indicators.
Foreign reserves hit $45.44 billion
A major highlight of the week was the steady rise in Nigeria’s external reserves, which have now crossed the $45 billion mark.
According to Nairametrics checks, the reserves climbed to $45.44 billion, the highest level since July 23, 2019, when the figure stood at $45.04 billion.
Nairametrics also earlier reported that the external reserves climbed to $42.03 billion on September 19, 2025, marking the highest level since late September 2019 and setting a six-year (72-month) peak.
This means the nation has added nearly $5 billion to its reserves within a short period—an impressive turnaround at a time when many developing economies are struggling with declining FX buffers.
CBN licenses 82 new BDCs under new regulatory framework
In another major development, the Central Bank of Nigeria (CBN) confirmed the issuance of final operating licences to 82 Bureau De Change (BDC) operators. This approval, which took effect on November 27, 2025, follows the bank’s updated regulatory and supervisory framework for BDC operations.
The announcement was made via a statement issued by Hakama Sidi Ali, Acting Director of Corporate Communications.
In May 2024, the CBN released the approved guidelines for operations of Bureau De Change (BDCs) across the country while asking BDCs to reapply for licensing online with the new regulatory requirements in the next six months.
According to the new regulatory requirements, Tier-1 BDCs are mandated to have a minimum capital base of N2 billion, while that of Tier-1 was set at N500 million.
Furthermore, the bank set the application fee for a Tier-1 license at N1 million and that of Tier-2 at N250,000. The licensing fees for Tier-1 and Tier-2 BDCs were set at N5 million and N2 million, respectively.
What this means
While the Naira’s performance this week shows minor weakness, the upward trajectory of foreign reserves and regulatory tightening in the FX space could support medium-term stability.
The licensing of new BDCs may help improve liquidity and reduce pressure on parallel market rates, provided operators adhere strictly to the new rules.
Nevertheless, persistent demand pressures, reduced dollar inflows from crude oil, and market speculation continue to weigh on the currency.
CBN’s decision to approve 82 new BDC licences stirred notable concern across Abuja’s foreign exchange ecosystem, with operators and analysts warning that the move, though potentially beneficial in the long term, may heighten instability in a market still recovering from past regulatory shocks.
