Naira Appreciates Significantly Against US Dollar

The naira strengthened against the dollar at the official foreign exchange market, opening the week on a bullish note.

The Central Bank of Nigeria’s data showed that it strengthened to N1,354.26 per dollar on Monday, up from N1,366.19 traded at the close of work on Friday, February 6th, 2026.

This means the Naira recorded a significant N11.93 gain against the dollar on Monday when compared with the N1,366.19 exchanged last week.

The Naira uptrend on Monday represents the currency’s best performance since May 29, 2024, when it traded for N1,329.65 per dollar.

Meanwhile, at the black market, the Naira dropped by N5 to N1455 per dollar on Monday, down from the N1450 traded last week Friday, according to multiple Bureau De Change operators in Wuse Zone 4, Abuja.

The development is that Nigeria’s foreign reserves stood at $46.91 billion as of February 5th, 2026.

Recall that last week Friday, the Naira slightly depreciated at the official foreign exchange to close at N1,366.19 per dollar after days of gain.