The naira on Thursday recorded its strongest appreciation against the United States dollar in two years at the official foreign exchange market.
Data from the Central Bank of Nigeria (CBN) showed that the local currency strengthened to N1,396.99 per dollar, marking its best performance since the introduction of the Electronic Foreign Exchange Matching System (EFEMS).
This represents a day-on-day gain of N3.49 against the dollar at the official window.
At the parallel market, the naira also improved, appreciating by N5 to close at N1,480 per dollar on Thursday, compared with the N1,485 recorded the previous day.
Nigerian Newssphere reports that the naira has now posted four consecutive days of gains against the dollar at the official foreign exchange market.
The sustained rally comes amid a rise in Nigeria’s external reserves, which climbed to $46.11 billion as of January 28, 2026, from $46.04 billion recorded on January 26, according to data from the apex bank.
