Naira Slides Further Against US Dollar

The Naira continued its downward slide against the US dollar at the official foreign exchange market, opening the week on a bearish note.

Fresh figures from the Central Bank of Nigeria revealed that the currency weakened further on Monday, trading at N1,448.03 to the dollar. This marks a decline from the N1,442.43 recorded last Friday.

In practical terms, the Naira lost about N5.6 between Friday’s close and Monday’s trading session.

Across the black market, however, the currency held steady at N1,465 per dollar — unchanged from last week’s closing rate.

This decline comes even as Nigeria marks its seventh straight month of easing inflation, with the rate dropping to 16.05 per cent in October from 18.02 per cent in September.

It also follows a recent boost in the nation’s external reserves, which climbed to $43.64 billion as of November 14, 2025.