The Nigerian naira recorded a significant gain against the United States dollar at the parallel market on Thursday, rising sharply from the previous day’s rate.
A Bureau De Change operator, Abubakar Hassan, stated on Friday that the naira appreciated to N1,317 per dollar on Thursday, up from N1,350 on Wednesday. This represents a daily gain of N33 at the black market, marking the currency’s strongest performance in several months.
Hassan attributed the rally to reduced demand for foreign exchange and recent interventions by the Central Bank of Nigeria (CBN). “The naira strengthened to its highest level in the black market in months. I believe this is due to low patronage and recent CBN intervention,” he said.
Contrasting the parallel market, the naira weakened for the second consecutive session at the official foreign exchange window. It depreciated by N3.25 on Thursday, closing at N1,341.35 per dollar, down from N1,338.12 on Wednesday. Over two days, the currency has lost a total of N5.38 at the official market.
Nigeria’s external reserves stood at $48.50 billion as of February 17, 2026, according to data from the apex bank. The mixed performance follows Wednesday’s trading session, which also saw divergent movements across official and parallel markets.
