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Naira Holds Gains — Dollar Trades Around ₦1,466 in Official Market, ₦1,450 on Street
ABUJA, Nigeria (AP) — Nigeria’s naira was trading at about ₦1,466 to the U.S. dollar in the official Nigerian Foreign Exchange Market (NFEM) on Monday, while in the informal or “black” market, it was quoted near ₦1,450 per dollar.....KINDLY READ THE FULL STORY HERE▶
The official value comes from a volume-weighted average drawn from interbank trades, reflecting ongoing liquidity support from the Central Bank of Nigeria (CBN).
What’s Happening
In the official market, the naira has held steady thanks to modest dollar inflows and targeted liquidity injections by the CBN, traders say.
On the streets, or parallel market, the rate is often somewhat lower (i.e., fewer naira per dollar) as it reflects local supply and demand dynamics without regulation. For Monday, the black market rate was reported at around ₦1,450.
This difference between official and black market rates is not new. The gap often signals how much pressure is on the local currency beyond what the regulators can directly manage.
Why It Matters
The dollar-naira rate affects everyday life. It influences the cost of imported goods, school fees, medical supplies, and fuel. A weaker naira raises inflation and squeezes household budgets.
In recent months, Nigeria’s currency has seen mild appreciation in official and informal markets. Analysts attribute this to external flows, a slowdown in speculative demand, and central bank interventions.
Still, the black market often leads with shifts in sentiment or supply shocks. Many Nigerians and small businesses depend on that rate when accessing hard currency outside the banking system.
Central Bank Role & Outlook
The CBN continues to play a stabilizing role. By injecting foreign exchange into the system and guiding interbank trades, it can dampen wild swings. Maintaining public confidence is especially important in volatile times.
Going forward, analysts see room for modest strengthening of the naira if foreign inflows remain steady and speculation decreases.
However, risks include external shocks (e.g., weak oil revenue), global dollar strength, and domestic inflation pressures. Nigeria’s economy remains vulnerable to these levers.
Bottom Line
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Official rate: ~₦1,466 per USD
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Black market: ~₦1,450 per USD
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The spread remains, but the naira has shown some resilience
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Stability depends on central bank action and external factors
Latest News
DOUBLE AGENT CRISIS: Melaye Fires Epic Warning Over Adedeji’s Alleged Dual Roles As Tax Boss and President’s Fundraiser!.
African Democratic Congress (ADC) chieftain Dino Melaye has strongly criticized the inclusion of Nigeria Revenue Service (NRS) Executive Chairman, Zacch Adedeji, as Deputy Director of Fundraising for President Bola Tinubu’s 2027 presidential campaign.....KINDLY READ THE FULL STORY HERE▶
Appearing as a guest on Arise Television’s Prime Time, Melaye argued that assigning campaign fundraising duties to the head of a critical national revenue agency demonstrates profound desperation and violates public service rules.
Key Objections and Legal Challenge
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Conflict of Interest: Melaye emphasized that because the NRS chairman’s office is a Senate-confirmed position bound by statutory and public service regulations, holding a simultaneous political campaign role creates an unacceptable conflict of interest.
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Intentions Questioned: He alleged that the arrangement suggests the initial appointment to the NRS was strategically designed to channel financial backing toward the president’s re-election bid.
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Legal Action: Vowing to challenge the development in a court of law, Melaye stated his intention to expose what he perceives as a disregard for governance standards.
Response to Campaign List Review
Melaye also reacted to recent reports regarding the suspension and review of the campaign council roster. He claimed that the swift administrative pullback and the omission of certain names were direct reactions to public outcry and criticisms raised by opposition figures.
Would you like to explore official updates or review related portal information regarding political appointments and guidelines? You can check updates through the Arise News Portal or reference announcements via Daily Post.
Former Aviation Minister and Nigeria’s former Ambassador to South Africa, Femi Fani-Kayode, has publicly criticized former Kaduna State Governor Nasir El-Rufai, alleging that his eight-year administration oversaw the systematic marginalization and mistreatment of Christian communities in the state.....KINDLY READ THE FULL STORY HERE▶
Addressing northern Christian leaders, Fani-Kayode claimed that during El-Rufai’s tenure, Christian communities faced violence, denial of developmental projects, and unequal allocation of resources. He asserted that Christian clergy members frequently endured insults and opposition regarding government policies, yet maintained a stance of prayer and non-violence.
Shifting his focus to the current administration, Fani-Kayode praised incumbent Governor Uba Sani—who previously served as a special adviser under El-Rufai—describing him as fair-minded and inclusive. According to Fani-Kayode, Sani had privately expressed deep concern over the previous administration’s approach toward religious groups in the state.
Furthermore, Fani-Kayode alleged that El-Rufai’s former deputy, Barnabas Bala Bantex, was also undermined and disrespected because of his faith during cabinet sessions. Concluding his remarks, Fani-Kayode emphasized that principles of fairness and spiritual duty must always transcend partisan politics.
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Inside Oshiomhole’s Warning: Why Hope Uzodinma Is The Wrong Man To Sell The APC Government to Ndigbo!
Former Edo State Governor and current Senator Adams Oshiomhole has clarified that Imo State Governor Hope Uzodimma should not bear the sole responsibility of championing President Bola Tinubu and his administration across the South-East region.....KINDLY READ THE FULL STORY HERE▶
Speaking during a television interview on Sunday, Oshiomhole addressed broader political engagement strategies aimed at strengthening ties between the Federal Government and the South-East. He noted that while Uzodimma holds a prominent position as secretary within the ruling party’s campaign structure, that role does not translate to an exclusive mandate for explaining government policies and milestones to the Igbo community.
Instead, Oshiomhole emphasized that all political leaders and governors representing the South-East share an equal duty to communicate effectively with their constituents and build strong bridges with the center.
“Please note, the fact that Hope Uzodimma is the secretary doesn’t mean he will be the one marketing President Bola Ahmed Tinubu to the Igbo nation. I believe that every other governor in the South-East also has a role to play,” Oshiomhole stated.
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