Omo, e be like say naira don pick up gbege for exchange market! As we dey talk now, naira don strong reach N1,358.28 for official window, na im best level wey e don see since two years. This one dey happen as e dey supported by increasing external reserves wey dey give market plenty confidence.
CBN data show say naira don gain N14.63 for NFEM, wey be Nigerian Foreign Exchange Market, as e dey appreciate by 1.1 percent from N1,372.91 wey e dey get the previous day. E be like say market don sabi right move as dollar supply dey improve wahala no dey ground again!
For black market, naira dey trade at N1,450 per dollar, meaning say even street traders dey smile now. Na dis stability for unofficial market dey show say na money dey circulate wan way and e dey reduce pressure for people wey dey look for dollar. Naija’s external reserves don rise to $46.70 billion as of February 3, 2026, meaning say e dey better small like that.
No forget say for MPC meeting wey happen last November, one member wey be Aku Pauline Odinkemelu talk say the stability wey naira dey enjoy now na because capital dey enter our market finish. She wan make everybody know say una no need fear, as we dey meet foreign obligations well well.
Another person wey talk, Bala Moh’d Bello, on top matter say speculative wahala don dey reduce for foreign exchange market, and dis one dey make everything clear and dey follow how market wan see price. So, na smoothing naira no go dey do kabukabu again.
CBN deputy governor Emem Usoro also don talk how dis better reserve position go fit create a more balanced market for we. E dey sweet my belle as Rhodium Capital analysts don dey explain say naira dey ride high thanks to better fundamentals and improving forex market conditions. Dem dey expect say naira go still dey shine like this in the near future.
Hope Moses-Ashike wey be Associate Editor for Banking and Finance dey use im whole mind track these market movements, and e dey do am for more than ten years now. Na im dey help us sabi wetin go fit happen for our economy, and how we fit use naira well. No mind all dis big grammar, e dey ensure say we understand the financial wahala wey dey happen around us.
So, make we keep our eyes on this naira matter, as e dey show us say wetin smooth can still deter bad things when e come to dollar market.
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