City, Nigeria – Naira just dey do am flat-flat for foreign exchange markets this Monday as dem report come show say weekly inflows don fall by 15.7 percent. E look like say foreign exchange supply dey waka slow, and local currency dey face small pressure. Na data wey Central Bank of Nigeria (CBN) drop show say naira don depreciate small by 72 kobo, as dollar now dey quote ₦1,437.29 on Monday, compared to ₦1,436.57 wey dem record on Friday.
For parallel market wey dem sabi as black market, naira still dey weak against dollar, close at ₦1,460 per dollar on Monday — na loss of ₦5 from ₦1,455 wey e be on Friday. Traders talk say di decline na because market liquidity don drop as inflows dey slow down. Report wey come from Coronation Merchant Bank talk say foreign exchange inflows through NFEM don fall to $899.20 million, wetin dey show say na 15.7 percent drop when you compare am to $1.04 billion wey dem get for di previous week.
Di report come confirm say di reason wey inflows moderate na because foreign investors and corporates no dey participate like before. Foreign Portfolio Investors (FPIs) still dey hold beta ground, contributing 60.13 percent, which be about $540.70 million of di total market liquidity. Non-bank corporates follow with 13.99 percent, individuals dey carry 12.75 percent, and exporters dey contribute 12.56 percent, while other wahala wey remain na 0.56 percent.
We go note say weaker inflows waka come as di naira don stop hin two-week appreciation streak. Di official exchange rate don slump by 1.03 percent week-on-week to land at ₦1,436.58 per dollar. Meanwhile, parallel market rate don also dey weak by 1.71 percent week-on-week, as e dey settle for ₦1,465 per dollar. Na so di gap between official and parallel market rates don widen to ₦28.42 per dollar, from ₦18.27 per dollar wey e dey last week.
As for reserves matter, Nigeria gross external reserves don rise small by 0.29 percent week-on-week, which be $127.10 million increase, to close at $43.32 billion as of 6 October 2025. Dis small gain dey come because of di recorded inflows of $899.20 million and dem lower outflows wey be $822.60 million during di review period.
Analysts wey dey work for Coronation Merchant Bank talk say dem get some kind cautious optimism about wetin fit happen with naira for di near future. Dem talk say naira go still dey below ₦1,500 per dollar, as long as foreign portfolio inflows dey steady for fixed-income market and market liquidity dey improve. But dem no forget to warn say to keep di FX market stable, CBN gatz continue dem reforms, investors gatz stay active, and dem gatz work hard to build external reserves even as global economy dey face wahala.
Market participants still dey claim say dis moderation for inflows fit just be temporary, because as Eurobond proceeds and seasonal remittances kon dey come, e fit strengthen liquidity back for di coming weeks. Though naira dey flat for now, analysts dey yarn say di current dynamics dey show how Nigeria FX market dey sensitive to foreign investment movements, global small-small sentiments, and local policy wahala. As FPIs still dey do am strong for di market, market watchers dey expect say movement for exchange rate go still dey largely influenced by di pace of external inflows and wetin CBN go do in di upcoming weeks.
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