Figures cited by **Vanguard** show that the Nigerian naira is continuing to trade within a narrow band against the US dollar in both the official and parallel markets. Despite persistent demand for foreign exchange for imports and school fees, the currency has shown a degree of resilience, reflecting the Central Bank’s ongoing interventions and market-clearing strategies.
Traders noted that while sentiment remains cautious, the wild fluctuations seen in previous months have subsided. However, analysts warn that the underlying pressure on external reserves remains a concern, especially as global oil price volatility continues to influence the country’s foreign exchange inflows.
**ThisDay** reported that “the CBN is expected to maintain its hawkish stance to defend the naira,” while **The Nation** noted that “liquidity remains the primary concern for manufacturers seeking FX.”
**Echotitbits take:** “Stability” is relative. While the naira isn’t crashing daily, it remains at a level that makes imports expensive. Watch the CBN’s next move regarding interest rates; a hike might support the naira but will further squeeze local businesses.
Source: BusinessDay – https://businessday.ng/news/article/nairas-stability-pinned-on-sustained-dollar-sales-by-cbn/, April 24, 2026
Photo credit: BusinessDay
