By Boluwatife Oshadiya | April 15, 2026
Key Points
- Naira appreciates by ₦12.41 to ₦1,343.76/$ at official market
- FX liquidity surges 260% to ₦141.3 million across 175 deals
- Parallel market also strengthens slightly to ₦1,371/$
Main Story
The Nigerian naira extended its appreciation at the official market on Tuesday, closing at ₦1,343.76 per dollar, according to data published by the Central Bank of Nigeria.
The gain of ₦12.41 represents a 0.9% improvement from Monday’s closing rate of ₦1,356.18/$, marking the second consecutive week of sustained strengthening for the local currency amid ongoing monetary reforms.
Market data also showed a sharp increase in interbank foreign exchange liquidity, which rose to ₦141.315 million across 175 deals — a 260% jump from ₦38.256 million recorded in the previous session. Analysts attribute the surge to increased inflows from foreign portfolio investors, particularly through Open Market Operations (OMO) bills.
As a result, intraday spot exchange rates traded within a relatively stable band of ₦1,334 to ₦1,350, reflecting reduced demand pressure for foreign currency and improved market confidence.
Across broader currency markets, the naira appreciated in both official and parallel segments. It strengthened by 0.92% at the official window and edged up by 0.15% to ₦1,371/$ in the parallel market.
Meanwhile, global oil prices declined sharply on Tuesday, adding another layer of macroeconomic context for Nigeria, Africa’s largest crude exporter. Brent crude fell 3.8% to $95.54 per barrel, while West Texas Intermediate (WTI) dropped 6.1% to $92.85.
The decline follows renewed diplomatic signals between the United States and Iran, easing fears of supply disruptions. Earlier tensions had pushed oil prices above $100 per barrel after Donald Trump ordered a blockade of Iranian ports.
What’s Being Said
“We’ve been called by the other side. They’d like to make a deal very badly,” said Donald Trump, speaking to reporters outside the White House, signalling potential progress in US-Iran negotiations.
Market analysts note that easing geopolitical tensions could further stabilise oil prices, which remain a critical determinant of Nigeria’s FX earnings and external reserves.
What’s Next
- Investors will monitor sustained foreign portfolio inflows into OMO bills for continued FX liquidity support
- The next Monetary Policy Committee (MPC) signals from the Central Bank of Nigeria will be key in shaping currency direction
- Developments in US-Iran negotiations may influence global oil prices and Nigeria’s export earnings trajectory
The Bottom Line: The naira’s recent gains reflect improving FX liquidity and investor confidence driven by CBN reforms, but sustainability will depend on consistent inflows and external factors, particularly oil price stability.
