By Grace Alegba
Lagos, Oct. 31, 2025 (NAN) – The Naira extended its gains on Friday, closing the week stronger at N1,421.73 to the U.S. dollar at the official foreign exchange market, data from the Central Bank of Nigeria (CBN) showed.
The rise represents an appreciation of N15.23, or 1.07 per cent, from N1,436.97 recorded earlier in the week on Tuesday, underscoring a steady upward trend for the local currency.
During the week, the Naira traded at N1,452.79 on Monday, N1,448.20 on Tuesday, and N1,444.42 on Wednesday, reflecting growing market confidence.
Analysts say the rally is driven by Nigeria’s removal from the FATF grey list, rising oil revenues, improved foreign reserves, and higher diaspora remittances, all of which have strengthened investor sentiment.
“The sustained gains in both official and parallel markets signal that Nigeria’s economic fundamentals are stabilising,” a market analyst noted.
Experts expect the stronger Naira to support import-dependent businesses, help curb inflationary pressures, and boost investor confidence in Nigeria’s financial markets.
(NAN)
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Godwin Okafor is the Publisher & CEO of Naija247news Media Group LLC, an independent investigative news platform delivering accurate, data-driven reporting on Nigerian and global politics, economy, finance, and business. Founded in October 2010, Naija247news specializes in developmental journalism, providing timely insights and analysis to readers across Nigeria and the diaspora.
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