By Boluwatife Oshadiya | April 10, 2026
Key Points
- Naira appreciates by ₦12.50 to close at ₦1,359.31 per dollar
- Gain represents a 0.9% improvement from previous session
- Stability linked to sustained CBN foreign exchange reforms
Main Story
The Nigerian naira strengthened further at the official foreign exchange market on Thursday, appreciating by ₦12.50 to close at ₦1,359.31 per dollar, according to data published by the Central Bank of Nigeria (CBN).
The latest gain represents a 0.9% improvement compared to Wednesday’s closing rate of ₦1,371.82/$, extending the currency’s recent stability trend in the official window.
Analysts attribute the naira’s improved performance to ongoing CBN reforms, including increased FX liquidity, tighter monetary policy, and efforts to unify exchange rate segments.
The currency has shown relative resilience in recent weeks despite persistent external pressures, including global dollar strength and crude oil price volatility.
“The recent appreciation reflects improved FX supply dynamics and increased market confidence in the CBN’s reform agenda,” a senior treasury analyst at a Lagos-based bank said.
What’s Being Said
“Sustained policy discipline is beginning to stabilise the exchange rate and reduce speculative pressure,” said a currency strategist at FBNQuest.
“The CBN’s interventions are gradually restoring balance in the FX market,” said a financial analyst at Vetiva Capital.
What’s Next
- Investors to monitor CBN FX interventions and liquidity levels
- Upcoming Monetary Policy Committee (MPC) decisions to influence currency direction
- External reserves position to remain a key driver of FX stability
Bottom Line
The Bottom Line: The naira’s steady appreciation signals early success of FX reforms, but sustained stability will depend on consistent liquidity inflows and disciplined monetary policy execution.
