Naira Edges Up at Official Market as Nigeria’s Foreign Reserves Hit Multi-Year High

|By Babatunji Wusu

The Naira edged upward on Tuesday, marking its first appreciation of the week at the official foreign exchange window. Data from the Central Bank of Nigeria (CBN) showed that the local currency firmed to ₦1,447.43 per dollar, improving from ₦1,448.03 recorded on Monday.

The slight rebound means the Naira gained 60 kobos against the U.S. dollar on a day-to-day basis.
However, the parallel market held steady, with traders maintaining Monday’s rate of ₦1,465 per dollar.

Latest checks also revealed that Nigeria’s foreign reserves climbed to $43.97 billion as of November 17, 2025, according to CBN figures.
At a separate event on Tuesday, the CBN Governor, Olayemi Cardoso, disclosed that the reserves had earlier surged to a seven-year high of $46.7 billion as of November 14, underscoring what he described as improving market confidence.