Naira opens 2026 stronger, gains ₦4.90 at official market

The naira began trading in 2026 on a positive note, appreciating against the United States dollar at the official foreign exchange market on Friday.

Data published on the Central Bank of Nigeria (CBN) website showed that the local currency exchanged at ₦1,430.84 to the dollar, representing a ₦4.90 gain compared with the last trading day of 2025.

The appreciation translates to a 0.34 per cent increase from ₦1,435.75 per dollar recorded on Wednesday, December 31, 2025, the final trading session before the New Year holiday.

The latest movement extends the naira’s modest recovery recorded during the yuletide period, suggesting relative stability at the official market as trading resumed in the new year.

Currency analysts attribute the sustained performance to ongoing reforms in the foreign exchange market, improved dollar supply through official channels, and continued interventions by the monetary authorities aimed at narrowing volatility.

However, market watchers note that the naira’s outlook in 2026 will largely depend on factors such as foreign capital inflows, crude oil export earnings, external reserves position, and the consistency of monetary and fiscal policy coordination.

The CBN has repeatedly reaffirmed its commitment to maintaining transparency and stability in the foreign exchange market, while encouraging increased non-oil exports and foreign investments to strengthen the naira in the long term.