Naira Records Highest Gain Against Dollar At Black Market

Published

11 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.

14 Nigerian Banks Yet To Meet CBN’s Recapitalization Deadline [FULL LIST]

Published

45 minutes ago

January 9, 2026

Editor

With barely eleven weeks to the Central Bank of Nigeria’s (CBN) recapitalisation deadline, fourteen banks are yet to meet the requirement.

This comes as DAILY POST reports that 19 Nigerian banks had met the apex bank’s recapitalisation requirements as of January 6, 2025.

The banks that have complied with the CBN’s minimum capital benchmark include Access Bank, Fidelity Bank, First Bank, GTBank (GTCO), UBA, Zenith Bank, and twelve others.

However, as of the time of filing this report, fourteen Nigerian banks are yet to comply.

The banks that have not met the apex bank’s recapitalisation requirement include First City Monument Bank (FCMB), Unity Bank, Keystone Bank, Union Bank (Titan), Taj Bank, Standard Chartered Bank, Parallex Bank, and SunTrust Bank.

Others are FBH Merchant Bank, Rand Merchant Bank, Coronation Merchant Bank, Alternative Bank, and other non-interest banks.

Meanwhile, financial experts have predicted possible mergers and acquisitions ahead of the March 31 deadline.

Business

Naira Extends Appreciation Against US Dollar

Published

15 hours ago

January 8, 2026

Editor

The naira extended appreciation against the dollar at the official foreign exchange market on Wednesday.

The Central Bank of Nigeria’s data showed that the Naira further firmed up on Wednesday to N1,418.26 per dollar, up from N1,419.07 exchanged on Tuesday.

Wednesday’s uptrend represents a slight N0.80 gain against the dollar on a day-to-day basis.

Meanwhile, at the black market, the Naira remained unchanged against the dollar at N1,480 per dollar on Wednesday, the same rate recorded the previous day.

The development comes as Nigeria’s foreign reserves further rose to $45.62 billion as of January 6th, 2026.

Recall that on Tuesday, the Naira posted a N10.24 gain against the dollar.

Business

Naira Continues Gain Against US Dollar As Nigeria’s Foreign Reserves Climb To $45.57bn

Published

3 days ago

January 6, 2026

Editor

The Naira appreciated further against the United States Dollar at the official foreign exchange market, beginning the week on a good note.

Central Bank of Nigeria data showed that the Naira strengthened on Monday to N1,429.31 per dollar, up from N1,430.85 exchanged on Friday, 2 January 2026.

This means that the Naira gained N1.56 against the dollar on Monday when compared to N1,430.85 last week Friday.

At the black market, the Naira dropped by N5 to N1480 per dollar on Monday, down from N1475 traded Friday.

The development comes as the country’s external reserves rose to $45.57 billion as of Friday last week.