The naira began the new trading week with a modest appreciation, trading below the ₦1,460 mark against the US dollar on Monday, signalling renewed calm in Nigeria’s foreign exchange market.

Figures released by the Central Bank of Nigeria (CBN) showed that the local currency closed at ₦1,456 per dollar, improving from ₦1,466.5 on Friday and ₦1,462.9 recorded on Thursday. The movement reflects a gradual recovery after the mild depreciation witnessed last week.

CBN data further indicates that the naira strengthened from ₦1,462.9/$ on Thursday to ₦1,456/$ on Monday, representing a week-on-week improvement. When compared with the previous Monday’s close of ₦1,454/$, the performance points to sustained stability rather than a short-lived rebound.

At the parallel market, currency traders in Abuja told Nairametrics that the naira exchanged at about ₦1,481 per dollar for buying and ₦1,489 for selling, an improvement from the ₦1,500/$ rate seen on Friday.

Analysts and foreign exchange experts attribute the currency’s steadier outlook to continued interventions by the CBN, including targeted dollar supply and tighter regulatory monitoring of the market.

The naira’s consistent performance has raised cautious optimism across the economy. For businesses, traders and consumers, the relative stability offers greater predictability for pricing, transactions and financial planning. Market watchers note that if the trend is sustained, it could strengthen investor confidence, support economic activity and reduce exposure to sharp currency swings.

Meanwhile, President Bola Ahmed Tinubu on Friday presented the 2026 Appropriation Bill to the National Assembly, describing the underlying assumptions as conservative. Key projections in the budget include an oil price benchmark of $64.85 per barrel, crude oil production of 1.84 million barrels per day, and an exchange rate estimate of ₦1,400 to the dollar.

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