Naira records strongest appreciation against US dollar in two years

The naira recorded the strongest gain against the United States dollar at the official foreign exchange market.

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The Central Bank of Nigeria’s data showed that it strengthened to N1,396.99 per dollar on Thursday, its strongest performance in two years since the commencement of the Electronic Foreign Exchange Matching System (EFEMS).

This showed that the Nigerian naira appreciated by N3.49 against the dollar on a day-to-day basis.

Also, at the black market, the Naira edged out the dollar by N5 to close at N1480 per dollar on Thursday, up from N1485 the previous day.

DAILY POST reports that the naira had four days of impressive rallies over the dollar at the official FX market.

The development comes as the country’s external reserves surged to $46.11 billion as of January 28, 2026, up from $46.04 billion recorded on January 26, according to the apex bank data.