Figures cited by Daily Post show the naira recorded a mild dip at the official market, trading around ₦1,419.72 per dollar after a strong early-year run. The move marked the currency’s first reported depreciation of 2026.
At the same time, the Central Bank of Nigeria said foreign reserves continued to rise, reaching about $45.64 billion, suggesting a strategy of building liquidity buffers rather than heavy immediate market intervention.
The parallel market was also reported to have softened slightly. Analysts cited seasonal Q1 import demand and post-holiday business activity as factors behind short-term volatility.
Vanguard and Leadership carried related market commentary, including calls to watch CBN liquidity actions and policy signals.
Echotitbits take: A small dip isn’t panic territory. Rising reserves give the CBN more room to stabilize markets if pressure builds—watch policy signals at the next MPC meeting.
Source: Daily Post – https://dailypost.ng/2026/01/02/naira-records-n100-appreciation-against-dollar-foreign-reserves-rise-to-45-5bn-in-2025/ 2026-01-09
Photo Credit: Daily Post
