The Nigerian naira closed the second consecutive week on a downward trend against the United States dollar across both the official and parallel foreign exchange markets.
Data from the Central Bank of Nigeria on Friday showed that the naira weakened further to N1,393.26 per dollar at the official market, compared to N1,387.45 recorded previously.
This represents a day-to-day depreciation of N5.81 and a week-on-week drop of N29.87 against the dollar. In the last two weeks alone, the local currency has fallen by N46.94 at the official market.
At the parallel market, commonly known as the black market, the naira also recorded a sharp decline. The currency traded at about N1,415 per dollar on Friday, representing a depreciation of N45 from around N1,370 per dollar on February 23, 2026.
Bureau de Change operators at Wuse Zone 4 in Abuja confirmed the development.
The continued decline of the naira across foreign exchange markets comes despite recent interventions by the Central Bank of Nigeria to stabilize the currency by mopping up dollars from the market.
The intervention was recently acknowledged by Bola Ahmed Tinubu, who confirmed that the apex bank had taken steps to manage dollar liquidity in the foreign exchange market.
