Naira Records Highest Gain Against Dollar At Black Market

Published

10 months ago

February 7, 2025

The Naira has appreciated further against the Dollar at the parallel foreign exchange market.

This comes as the Naira recorded the biggest gain against the dollar at the black market on Thursday on a week-on-week basis.

A Bureau de Change Operator in Wuse Zone, Abuja, told DAILY POST that the Naira strengthened to N1570 per dollar on Thursday from N1590 per dollar traded on Wednesday.

This means that N20 was gained on a day-to-day basis, the highest appreciation since the commencement of trade this week.

Meanwhile, at the official market, the Naira fell to N1,500.65 per dollar on Thursday from N1,499.76 exchanged the previous day.

Summarily after Thursday’s trading across FX markets, DAILY POST reports that the Naira firmed up by 20 and dropped N0.89 at the black and official markets, respectively.

DAILY POST observed that in the past days, the gap between official and parallel FX markets has been shrinking.

The development comes as the Central Bank of Nigeria on Wednesday strengthened oversight on BDC operators in the country.

The apex bank’s Trade and Exchange Department capped weekly FX sales to BDC operators at $25,000.

Naira Appreciates Against US Dollar After Highest Dip

Published

1 day ago

November 21, 2025

Editor

The Naira bounced back, recording an appreciation against the United States dollar at the official foreign exchange market after hitting its lowest point this week.

Data from the Central Bank of Nigeria showed that the Naira strengthened to N1,452.13 on Thursday, up from N1,454.19 traded on Wednesday.

This represents a gain of N2.06 against the dollar on a day-to-day basis.

Meanwhile, in the black market, the Naira depreciated by N5 to N1,470 per dollar on Thursday, down from N1,465 recorded the previous day.

The apex bank’s data indicated that the country’s external reserves continued to rise, standing at $44.12 billion as of 19 November 2025, despite the mixed sentiments in the currency exchange market.

Recall that on Wednesday, the Naira recorded its highest depreciation against the dollar at the official FX market.

Naira Records First Appreciation Against US Dollar As Foreign Reserves Hit $46.7bn

Published

3 days ago

November 19, 2025

Editor

The Naira recorded its first appreciation against the United States dollar at the official foreign exchange on Tuesday this week.

The Central Bank of Nigeria’s data showed that the Naira strengthened on Tuesday to N1,447.43 per dollar, up from N1,448.03 exchanged on Monday.

This means that the Naira gained N0.6 against the dollar on a day-to-day basis.

Meanwhile at the black market, the Naira remained unchanged at N1,465 per dollar on Tuesday, the same rate exchanged on Monday.

Checks on Nigeria’s foreign reserves showed that it has risen to $43.97 billion as of November 17th, 2025, according to the Central Bank of Nigeria’s data.

Meanwhile, the apex bank governor, Olayemi Cardoso, in an event on Tuesday, said the country’s foreign reserves rose to a seven-year high of $46.7 billion as of November 14.

Dangote Sugar Announces South New CEO

Published

3 days ago

November 19, 2025

Editor

Dangote Sugar Plc has announced Mr Thabo Mabe, a South African, as its new Group Managing Director and Chief Executive Officer.

This follows the sudden resignation of Mr Ravindra Singhvi, an Indian.

The company disclosed this in a shareholders’ notice on Tuesday, in compliance with Nigerian Exchange Limited regulations.

Mabe’s appointment takes effect from December 1, while Singhvi’s resignation is effective from November 3ⁿ2025. The firm did not state a reason for Singhvi’s resignation.

“Mr Singhvi made significant contributions to the growth and transformation of the company and leaves behind a record of operational excellence,” the statement, signed by Mrs Temitope Hassan, Company Secretary and Legal Adviser, read.