Business
Naira Weakens Against Dollar at Official Exchange
The Naira edged lower against the US dollar at Nigeria’s official foreign exchange market on Wednesday.
Data from the Central Bank of Nigeria (CBN) show the currency traded at N1,420.04 per dollar, down from N1,419.66 on Tuesday, representing a daily decline of N0.38. This marks the first depreciation of the week after two consecutive days of gains earlier.
In parallel, the Naira held steady at N1,490 per dollar in the black market, unchanged from Tuesday.
The dip comes despite Nigeria’s rising foreign reserves, which reached $45.74 billion as of January 12, 2026, according to the CBN.
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