In an update published by **Channels TV**, the Nigerian Naira has demonstrated significant resilience against the US Dollar, strengthening past the psychological barrier of N1,400 to trade near N1,350 at the official window. Financial analysts attribute this rally to a substantial increase in foreign exchange inflows from exporters and international investors, who are reportedly attracted by the high yields currently offered in the Nigerian debt market.
Validation: **The Cable** and **Daily Post** confirmed the currency’s positive trajectory. **The Cable** reported that “investors are increasingly bullish on Nigerian assets,” while **Daily Post** quoted a BDC operator stating, “demand for the dollar has cooled significantly this week as liquidity improves.”
**Echotitbits take:** The narrowing gap between the official and parallel market rates is a victory for the Central Bank’s unification policy. However, with global oil prices fluctuating due to Middle East tensions, the CBN must ensure this stability isn’t just a temporary reaction to high interest rates but a sustainable trend backed by productivity.
Source: DMarketForces – https://dmarketforces.com/naira-value-weakens-to-n1350-as-fx-payments-surge/, May 11, 2026
Photo credit: The Journal
