The Central Bank of Nigeria (CBN) has sold $52 million to authorised dealer banks in the foreign exchange market as part of efforts to stabilise the naira.
According to spot FX data, the intervention was executed between ₦1,482.55/$ and ₦1,486.10/$, boosting dollar liquidity on the supply side. The naira appreciated by 0.08 per cent to close at ₦1,487.37/$, supported by lower demand and improved export inflows. During the session, the currency traded within the range of ₦1,482.55–₦1,495.00/$.
CBN data showed that Nigeria’s gross external reserves rose to $42.14 billion as of September 22, 2025, up by $104.11 million from the previous day. Analysts expect the naira to remain broadly stable amid the stronger reserve position.
On the commodities market, Brent crude gained $1.88, or 2.85 per cent, to $67.85 per barrel, while U.S. West Texas Intermediate (WTI) rose $1.34, or 2.15 per cent, to $63.62 per barrel after talks to resume exports from Iraq’s Kurdistan stalled.
Gold prices also climbed to record highs, buoyed by safe-haven demand and expectations of further U.S. Federal Reserve rate cuts. Spot gold rose 0.44 per cent to $3,764.29 an ounce, while U.S. gold futures for December delivery settled 0.38 per cent higher at $3,782.15.
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