Lagos, Dec. 1, 2025 – The Naira opened the week on a mild downward trend, trading at N1,448.43 to the US Dollar at Nigeria’s official foreign exchange market, representing a slight depreciation of N1.69 or 0.1 per cent from Friday, November 28, when it exchanged at N1,446.74, according to data from the Central Bank of Nigeria (CBN).
Analysts say the minor fluctuation is part of normal market adjustments, highlighting that the Naira remains relatively stable compared with periods of high volatility experienced in previous months. Investors have welcomed the stability, pointing to foreign exchange reforms implemented by the CBN that have improved market predictability and confidence.
At the 60th Annual Bankers Dinner in Lagos, CBN Governor Olayemi Cardoso noted that recent measures have reduced opacity, curtailed market manipulation, and restored discipline, creating a more transparent and efficient FX trading environment. He added that the Naira now trades within a narrow, stable range, benefiting businesses and investors alike.
Governor Cardoso also highlighted the significant narrowing of the gap between official and parallel market rates, which now stands at under 2 per cent, down sharply from over 60 per cent in prior years. He emphasized that sustained reforms and consistent policies are crucial to maintaining stability, boosting investor confidence, and supporting broader economic growth objectives.
The relative calm in the foreign exchange market is being seen as a positive signal for Nigeria’s economic outlook, signaling greater predictability for businesses, investors, and policymakers navigating the nation’s financial landscape.
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Reporting by Peter Anene, Business Editor in Lagos, Nigeria.
