Nigeria’s currency on Friday strengthened after the Independence holiday by N1.00k as the dollar was traded at N462 on Friday as against N463 on Wednesday.
The naira appreciation was a combination of low demand by end user and dollar supply to the Bureau De Change (BDC) operators by the Central Bank of Nigeria (CBN) on Friday.
Naira remained stable as the dollar was traded at N465 at the Bureau De Change segment of the foreign exchange market.
The 5,000 BDCs who funded their accounts on Wednesday receive disbursement on Friday after the holiday.
At the Investors and Exporters (I&E) forex window, Naira appreciated by 0.05 percent as the dollar was quoted at N385.80 against the last close of N386.00. Analysts at FSDH research said most participants maintained bids between N380.00 and N386.00 per dollar. The CBN is still committed to its weekly FX sales to BDCs, which is expected to inject more liquidity to the FX market’s retail segment.
Hope Moses-Ashike
Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks.
She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings.
Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.
