The naira appreciated against the United States dollar at the Nigerian Foreign Exchange Market (NFEM) window on Friday, closing at ₦1,430 following a sharp rise in foreign exchange interventions that improved liquidity conditions across the market.
Data from the official trading platform showed that the local currency touched an intraday high of ₦1,438.50 per dollar, improving from ₦1,439.50 recorded in the previous session. Market participants said the movement reflected sufficient liquidity to accommodate foreign obligations and international payment demands.
According to foreign exchange dealers, the most competitive rate for international payments during the session stood at ₦1,427 per dollar, which also represented the lowest spot rate traded during the day. This rate matched levels last seen at the close of December 2025.
The official exchange rate strengthened by 0.34 percent to settle at ₦1,430.85/$ at the NFEM window, supported by substantial FX supply estimated at nearly $800 million in December. Analysts attributed the improved performance largely to aggressive interventions by the Central Bank of Nigeria (CBN).
Total FX injections in December climbed to $790 million, marking a 24 percent increase from November’s $636.60 million, according to TrustBanc Financial Group Limited. The sustained intervention helped the naira end 2025 at approximately ₦1,435 per dollar, outperforming several investment firms’ projections of ₦1,450.
In the parallel market, the naira also strengthened, appreciating to around ₦1,460 per dollar. The improvement signaled easing pressure across both official and informal currency markets as the new year began.
During December, the naira gained 0.77 percent at the official window, though it depreciated by 1.02 percent in the parallel segment. Meanwhile, Nigeria’s external reserves remained robust, closing the year at approximately $45.5 billion.
The CBN projects that gross external reserves could rise further to $51.04 billion in 2026. Over the course of 2025, the official spot exchange rate appreciated by 7.14 percent, closing at ₦1,435.76 per dollar.
Global commodity markets also influenced currency sentiment. Oil prices moved higher during the week on optimism surrounding potential peace talks between Russia and Ukraine, raising expectations of eased sanctions and possible supply adjustments. In contrast, precious metals recorded mixed performances, with gold and other industrial metals declining amid easing geopolitical risks, while lead, aluminum, and zinc advanced on tighter supply dynamics and improved demand outlooks.
 window on Friday, closing at ₦1,430 following a sharp rise in foreign exchange interventions that improved liquidity conditions across the market.){kind=link}