The naira on Tuesday appreciated further against the United States dollar at the official foreign exchange market, reflecting improved market confidence driven by steady external reserves and sustained Central Bank of Nigeria (CBN) interventions.
According to CBN data, the naira closed at ₦1,526.06 per dollar on September 2, 2025, slightly stronger than the ₦1,526.09 recorded the previous day. This represents a modest day-to-day gain of ₦0.03.
At the parallel market, the rate remained unchanged at ₦1,533 per dollar, a Bureau de Change operator in Wuse Zone 6, Abuja, Abubakar Alhasan, confirmed to DAILY POST.
Analysts attribute the currency’s resilience to rising external reserves, increased dollar inflows, and recent monetary tightening by the CBN. The apex bank’s latest figures show reserves climbed to $41.42 billion as of September 1, 2025, up from $41.22 billion on August 29, 2025.
Amid political reactions, presidential spokesperson Bayo Onanuga dismissed criticism from the opposition African Democratic Congress (ADC), insisting that “the United States dollar is no longer a king to the naira.”
Experts say if reserves continue to strengthen and market reforms hold steady, the naira may sustain its gradual upward movement in the coming weeks.
