The Nigerian Naira continues to gain ground against major global currencies, appreciating against the US Dollar in both official and parallel foreign exchange (FX) markets on Wednesday, November 26, 2025.
According to the Central Bank of Nigeria (CBN), the Naira closed at ₦1,442.92 per USD in the official market, up ₦3.39 from Tuesday’s ₦1,446.31. The Naira also recorded a slight gain against the Euro, while showing a marginal dip against the Pound Sterling.
Speaking after the recent Monetary Policy Committee (MPC) meeting, CBN Governor Yemi Cardoso credited the Naira’s improved performance to sustained macroeconomic stability and growing investor confidence.
He highlighted that the gap between the official and black-market rates has narrowed dramatically to 2%, down from around 60% previously, reflecting greater market discipline and transparency.
Cardoso noted that daily FX market activity now averages around $500 million, often without direct intervention from the CBN, signaling a more self-regulating foreign exchange market.
Nigeria’s external reserves have also risen to $44.18 billion, now sufficient to cover approximately ten months of imports. According to the CBN Governor, this level of reserves underpins market confidence, facilitates investment inflows, and is a key driver for long-term economic growth.
The latest figures underscore the impact of CBN reforms and the government’s ongoing efforts to stabilize the Naira exchange rate, supporting broader macroeconomic stability in Nigeria.
What's Your Reaction?
Leave your vote
