Lagos, Nigeria – June 28, 2025
The Nigerian naira recorded a modest gain in the parallel market, appreciating to ₦1,575 per dollar on Friday, reflecting renewed confidence and improved foreign exchange liquidity in the informal segment of the market.
Currency dealers across major cities, including Lagos and Abuja, reported increased dollar availability and moderated demand, which contributed to the currency’s strengthening from the previous average of ₦1,585 to ₦1,590/$1 observed earlier in the week.
Market analysts attributed the naira’s rebound to a combination of improved remittance inflows, reduced speculative activities, and policy tightening measures by the Central Bank of Nigeria (CBN).
“The rebound reflects improved dollar inflows from non-oil sources, including diaspora remittances, as well as interventions at official windows that are helping to stabilize the broader FX ecosystem,” one dealer noted.
Meanwhile, at the official Nigerian Autonomous Foreign Exchange Market (NAFEM), the naira traded within a tighter band, although with less volatility than the parallel market.
As the country continues to implement structural reforms to enhance macroeconomic stability, currency watchers suggest that sustained improvement in FX supply and investor confidence could further boost the naira’s trajectory in the coming weeks.
