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The naira strengthened notably against the US dollar at the parallel foreign exchange market on Monday, extending gains recorded after the Christmas holidays.
A Bureau De Change operator in Wuse Zone 4, Abuja, Abubakar Hassan, said the local currency traded at ₦1,475 to the dollar on Monday, improving from ₦1,490 before the holiday break. He attributed the appreciation to reduced demand for foreign exchange during the period.
The movement represents a ₦15 gain for the naira against the dollar in the parallel market.
The currency also posted marginal gains at the official window. Data from the Central Bank of Nigeria showed that the naira appreciated to ₦1,442.51 per dollar on Monday, compared with ₦1,443.38 recorded on Wednesday, 24 December 2025. This reflects a ₦0.87 improvement at the official market.
The strengthening of the naira comes with a rise in Nigeria’s external reserves, which increased by 7.28 per cent on a month-on-month basis.
