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The Nigerian currency appreciated slightly against the United States dollar on Monday, February 23, 2026, opening the new trading week on a stronger note in the official market.
Data from the Nigerian Foreign Exchange Market (NFEM) showed the naira opened at 1,339.18 per dollar, strengthening from the previous session’s closing rate of 1,343.36.
Early trading saw the currency fluctuate within a narrow band, reaching a high of 1,342.98 before easing lower.
The marginal gain comes amid continued intervention by the Central Bank of Nigeria (CBN) to stabilise the foreign exchange market.
The official mean rate for February stands at approximately 1,346.32, placing Monday’s opening rate slightly stronger than the monthly average.
In the parallel market, the dollar was quoted between 1,355 and 1,362 per dollar, maintaining a relatively narrow premium over the official window compared with previous quarters.
Market analysts attribute the relative stability to improved liquidity conditions and sustained central bank support to Bureau De Change operators and authorised dealers, which has helped ease retail demand pressures.
Nigeria’s Monetary Policy Rate remains at 27.00%, a level analysts say continues to attract foreign portfolio flows and support the currency.
Meanwhile, inflation slowed to 15.10% in January 2026, according to official data, signalling moderating price pressures compared with previous years.
Financial experts project that the naira will likely trade within the 1,335 to 1,350 range in the official window this week, barring substantial shifts in global oil prices or domestic production levels.
