The naira weakened further against the dollar at both the official and parallel foreign exchange markets at the end of the second week. Latest data from the Central Bank of Nigeria showed the local currency closing at N1,393.26 per dollar on Friday, down from N1,387.45 recorded earlier.
The figures indicate that the naira depreciated by N5.81 on a day-to-day basis and by N29.87 week-on-week against the US dollar at the official market. Over the past two weeks, the currency has fallen by N46.94 in the official foreign exchange window.
A similar trend was recorded in the parallel market, where the naira dropped to about N1,415 per dollar on Friday from around N1,370 traded on February 23, 2026, according to Bureau de Change operators in Wuse Zone 4, Abuja.
The latest decline comes despite recent intervention by the Central Bank of Nigeria to stabilise the foreign exchange market by mopping up dollars, a move recently acknowledged by President Bola Tinubu.
