The naira posted mixed performances against the United States dollar on Wednesday, February 18th 2026, depreciating at the official market while strengthening in the parallel segment.
Data from the Central Bank of Nigeria indicated that the local currency weakened to N1,338.11 per dollar on Wednesday, compared to N1,335.96 recorded on Tuesday. This represents a day-on-day decline of N2.15 at the official foreign exchange window.
In contrast, the naira appreciated at the parallel market, commonly referred to as the black market, gaining N20 to close at N1,470 per dollar from the N1,490 traded the previous day.
A Bureau De Change operator in Wuse Zone 4, Abubakar Bagazzi, linked the currency’s improved performance in the parallel market to reduced demand for the greenback.
Meanwhile, Nigeria’s external reserves continued on an upward trend, rising to $48.50 billion as of February 17, from $48.37 billion recorded a day earlier.
