The Nigerian naira recorded a notable recovery against the United States dollar on Monday, appreciating across both the official and parallel foreign exchange markets.
Data from the Central Bank of Nigeria showed that the naira strengthened to N1,347.78 per dollar, improving from the N1,355.42 recorded on Friday. This represents a gain of N7.64 within a single trading session.
In the parallel market, commonly referred to as the black market, the naira surged by N40 to close at N1,400 per dollar, compared to N1,440 at the close of trading last week.
The latest performance marks a significant rebound for the local currency following losses suffered on Thursday and Friday of the previous week.
The development comes as Nigeria’s inflation rate eased to 15.10 percent in January 2026, according to figures released by the National Bureau of Statistics on Monday.
Meanwhile, the country’s external reserves climbed to $47.81 billion as of February 12, 2026, reflecting improved foreign exchange liquidity.
