Naira-and-Dollars (2) (1).webp
The naira held steady at N1,610/$ in the parallel market on Monday, marking a slight rebound from last week’s dip. Analysts credit tighter CBN policies and falling dollar demand for the calm, but long-term pressures remain.
  • Naira gains N5 against the dollar in the black market (now N1,610/$)
  • Official rate also improved slightly to N1,580.44/$
  • Reserves hit $38.6bn (up 0.6% weekly), CBN’s net reserves at 3-year high
  • Street traders report lower dollar rush: "Market is calmer now"
This isn’t just about numbers, it’s about trust. The CBN’s aggressive reserve rebuilding ($23.11bn net reserves) has cooled panic-buying, but Nigerians still remember the naira’s 91.5% fall since 2009. Governor Cardoso’s team is betting on stability to lure back investors, but fuel prices and import costs will test their progress.

Is this the start of real recovery or just a breather? Share your thoughts below.