The naira strengthened further against the U.S. dollar at Nigeria’s official foreign exchange window on Tuesday, continuing gains attributed to recent Central Bank of Nigeria (CBN) reforms.
CBN data show the naira firmed to N1,351.02 per dollar on Tuesday, up from N1,354.26 the previous day — a daily gain of N3.24. The currency also appreciated in the parallel market, where it traded at about N1,450 per dollar on Tuesday, against N1,455 the day before.
In a notice signed by the director of the CBN’s Trade and Exchange Department, the apex bank directed commercial banks to sell a maximum of $150,000 per week to licensed Bureau De Change (BDC) operators. The move is part of steps to channel more FX liquidity through the official market.
Meanwhile, Nigeria’s external reserves remained robust at $47.03 billion as of Feb. 6, 2026, according to a report.
Observers say the combination of policy measures and healthy reserves has supported the naira’s recent recovery.
