The naira continued its upward momentum against the United States dollar on Wednesday, recording gains across both the official and parallel foreign exchange markets.
Figures released by the Central Bank of Nigeria (CBN) showed that the local currency strengthened to N1,348.95 per dollar at the official market, improving from the N1,351.02 recorded the previous day. This reflects a day-on-day gain of N2.07.
Over the past three trading days, the naira has appreciated by a cumulative N5.51 against the dollar at the official foreign exchange window.
A similar trend was observed at the parallel market, where the naira appreciated to N1,445 per dollar on Wednesday, compared to N1,450 on Tuesday. The improvement follows a recent CBN directive permitting the sale of up to $150,000 weekly to licensed Bureau De Change operators.
Meanwhile, Nigeria’s external reserves have continued to rise, reaching $47.38 billion as of February 9, 2026, up from $47.03 billion recorded on February 6, according to the latest data.
