The naira surged to its highest level in 2025, trading at N1,520/$ in the black market amid CBN’s forex reforms. Increased liquidity, regulatory enforcement, and investor confidence have driven the gains. Analysts say the naira could strengthen further if these measures continue to stabilize Nigeria’s foreign exchange market.
The Nigerian naira has recorded its highest value of 2025 in the black market, trading at N1,520 per dollar. This surge is attributed to ongoing foreign exchange reforms by the Central Bank of Nigeria (CBN), improved market liquidity, and growing investor confidence in the local currency.
Forex traders in Lagos reported a steady appreciation of the naira over recent weeks, with increased dollar supply and reduced demand helping to push rates lower. Analysts suggest that CBN’s intervention, including stricter regulations for Bureau De Change operators and targeted sales of foreign exchange, has played a major role in stabilizing the currency.
The naira has faced significant fluctuations since 2023 when the federal government introduced measures to liberalize the forex market. At one point, the currency lost over 70% of its value. However, recent trends indicate a shift towards stability, driven by improved macroeconomic policies and a renewed push to strengthen the financial system.
Meanwhile, CBN Governor Olayemi Cardoso has reiterated that non-compliance with the revised forex regulations will attract severe penalties. He emphasized the importance of transparency in the foreign exchange market and assured that further measures would be taken to sustain the naira’s recovery.
Financial experts believe that if current policies continue to yield positive results, the naira may stabilize further, bringing relief to businesses and consumers grappling with inflation. Market watchers will also keep an eye on global economic factors that could influence Nigeria’s exchange rate in the coming months.
