The naira continued its upward momentum against the United States dollar on Tuesday, recording a notable appreciation at the official foreign exchange market.
Figures released by the Central Bank of Nigeria (CBN) showed that the local currency strengthened to N1,419.07 per dollar on Tuesday, improving from N1,429.31 exchanged on Monday.
This represents a day-on-day gain of N10.24 for the naira, marking its strongest single-day performance since official foreign exchange trading commenced in 2026, according to Nigerian Newssphere.
However, the naira remained unchanged at the parallel market, trading at N1,480 per dollar on Tuesday. This rate was consistent with Monday’s closing price, based on checks with several Bureau De Change operators in Wuse Zone 4, Abuja.
The recent appreciation of the naira comes amid a further increase in Nigeria’s external reserves, which rose to $45.61 billion as of January 5, 2026, from $45.57 billion recorded on January 2
