The naira ended the trading week weaker at the official foreign exchange market, closing at N1,421.9 per dollar as domestic supply constraints continued to outweigh supportive global dollar conditions. 

The U.S. dollar is on track for its worst week since June as unpredictable American policymaking continues to weigh on the currency ahead of the Federal Reserve’s upcoming meeting, Bloomberg reports.  

The naira closed the mid-week trading session at N1,423/$ at the official foreign exchange market, extending a mixed performance that contrasts sharply with sustained weakness in the parallel market.  

The naira weakened marginally at the official foreign exchange market on Monday, closing at N1,420.5 to the dollar as global dollar sentiment softened amid renewed concerns over U.S. economic and geopolitical risks. 

John Holt shares have gained 42.9% YtD this year, ranking it 15th year to date on the NGX. 

The naira weakened to N1,490 per dollar at the parallel market, pushing the exchange rate gap with the official market to its widest level in 11 months. 

The naira recorded a modest but steady appreciation against the U.S. dollar in the second trading week of 2026, reflecting improving foreign exchange fundamentals and renewed confidence in Nigeria’s external position.  

In 2025, Africa’s foreign exchange market was shaped by selective recoveries rather than broad-based strength, with Ghana’s cedi emerging as the continent’s top performer against the US dollar.  

Economic analysts and Bureau De Change (BDC) operators say the naira could record stronger gains and improved stability in 2026, supported by rising foreign exchange (FX) inflows. 

The naira recorded a mild depreciation at the official foreign exchange market in the second week of January 2025, closing at N1,421 per dollar on Wednesday. 

The naira could strengthen to between N1,350 and N1,450 per dollar in 2026, driven by improving macroeconomic fundamentals and a more supportive foreign exchange environment. 

Naira is expected to remain under pressure against the United States dollar in 2026, with outcomes ranging from moderate depreciation to a worst-case scenario of further weakening. This is according to Economist, Yemi Kale, who was the keynote speaker at the FirstBank Nigeria Economic Outlook 2026. His report outlines three scenario-based forecasts for the USD/NGN exchange rate, reflecting varying assumptions around oil prices, foreign-exchange (FX) inflows,...

Nigeria’s cash economy remained dominant in 2025, as the bulk of currency in circulation continued to sit outside the formal banking system, according to the Central Bank of Nigeria’s latest money and credit statistics. 

Total dollar inflows into the Nigeria Foreign Exchange Market (NFEM) declined by 20.67% week on week to US$593.70 million, down from US$748.40 million in the previous week, according to a report by Coronation Merchant Bank’s research subsidiary. 

Borrowing rates in Nigeria are projected to ease gradually over the next six months, supported by expectations of a stronger naira against the United States dollar. 

The naira weakened slightly to N1,431 per dollar at the official foreign exchange market on the first trading day of 2026, reflecting a mild pullback after ending 2025 on a strong note. This is according to data tracked by Nairametrics from the Nigerian Foreign Exchange Market (NFEM) for trading on Friday, January 2, 2026. The depreciation comes as the FX market...

The Nigerian Naira ended 2025 at N1,429/$, gaining 7.4%. This is also the first annual gain following 13 years of consecutive decline

Nigeria recorded an 11.78% decline in remittance inflows through International Money Transfer Operators (IMTOs) in the first half of 2025 compared with the same period of 2024, according to figures from the Central Bank of Nigeria’s latest quarterly statistical bulletin. Total IMTO inflows fell to $2.07 billion between January and June 2025, down from $2.34 billion in the corresponding period...

The naira opened the week on a positive note, appreciating to below N1,460 per US dollar on Monday, signaling renewed stability in the foreign exchange market.  

Currency traders have complained of liquidity challenges in the forex market, causing the depreciation of the naira in recent times. 

Analysts at Cordros Securities project that the naira could close 2026 around N1,350, supported by positive fundamental developments expected throughout the year. This insight comes from their 2026 outlook report, “Building Momentum Beyond the Rebound,” which provides reviews of macroeconomic trends and market dynamics. According to the report, the naira is likely to trade within a N1,450–N1,350 range as distortions in the foreign exchange market gradually ease....

The Central Bank of Nigeria has directed all banks and other financial institutions to implement multi-factor authentication for foreign card transactions exceeding $200 per day, as part of new measures to improve the seamless use of foreign-issued payment cards in Nigeria. The directive was contained in a circular dated December 18, 2025, issued by the CBN’s Financial Policy and Regulation Department and...

The naira closed the trading week on a weaker note at N1,466.5/$1 on Friday at the official foreign exchange market, extending a steady depreciation recorded throughout the week. Data from the Central Bank of Nigeria’s (CBN) website show that the currency weakened across five consecutive trading sessions, reflecting renewed pressure in the FX market. Friday’s closing rate represents a level not seen...

Retail forex traders, also known as Bureau De Change (BDC) operators, have expressed optimism that more final operating licences will be issued soon by the Central Bank of Nigeria (CBN), following the release of an initial list of 82 approved operators under its revised regulatory framework. The approval, which was announced on December 8, 2025, marks a key milestone in...

Analysts say a 25 basis-point interest rate cut by the United States Federal Reserve could have significant implications for Nigeria, particularly in the areas of capital flows, exchange rate stability and monetary policy alignment. The Federal Reserve cut its key interest rate by a quarter-point Wednesday, as widely expected, putting it in a range of 3.50% to 3.75% - its...

The Naira closed the week marginally weaker against the US dollar, ending Friday at N1,455.50/$1 at the official foreign exchange market.  

The Nigerian naira demonstrated some stability in relation to the British pound, trading at N1,950//£ at the official market. This represents a minor depreciation of the naira thus far this year due to stabilizing Nigerian reforms and economic challenges in the United Kingdom. Divergent economic recoveries between the two economies and policy responses have caused this rate to fluctuate between...

The Central Bank of Nigeria’s (CBN) decision to approve 82 new Bureau De Change (BDC) licences has 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. 

The US Federal Reserve's hawkish stance and high retail demand are exerting pressure on the naira at the unofficial market.

The Nigerian Naira has been relatively stable against the US dollar in the official market over the past week, and the currency is expected to remain bullish this week on U.S. Fed rate cuts expectations.