Naira Gains Further ₦12.50 at Official Market

Lagos: On Thursday, the local currency further appreciated at the official market, trading at N1,359.31 per US dollar.

According to data released on the Central Bank of Nigeria (CBN) website, the Naira gained N12.50.

This represents a 0.9 per cent gain when compared to Wednesday, when the local currency traded at N1,371.82 to the dollar.

The Naira’s relative stability has been attributed to sustained CBN reforms, specifically including recent tightening of monetary policy and enhanced management of foreign-currency supply.