NIGERIAN NAIRA REGISTERS STRONG RECOVERY AGAINST US DOLLAR
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By: Fasasi Hammad
The Nigerian naira posted a notable rebound against the United States dollar, recording gains in both the official and parallel foreign exchange markets.
Data from the Central Bank of Nigeria indicated that the naira appreciated to N1,347.78 on Monday, compared to N1,355.42 on Friday, reflecting a N7.64 improvement.
In the parallel market, the local currency strengthened significantly, rising by N40 to trade at N1,400, up from N1,440 at the close of last week.
The naira’s performance on Monday marked a strong recovery following losses recorded on Thursday and Friday.
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The rebound comes as Nigeria’s inflation rate declined to 15.10 percent in January 2026, according to figures released on Monday by the National Bureau of Statistics.
Meanwhile, the country’s external reserves climbed to $47.81 billion as of February 12, 2026.
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