The Naira has recorded a major boost against the US dollar, dropping below N1,500 at the official foreign exchange market for the first time since February 2025.
Fresh data from the Central Bank of Nigeria (CBN) shows the Naira closed at N1,497.5 per dollar on Monday, improving from N1,501.5 per dollar last Friday, a gain of N4.03.
The rebound comes as Nigeria’s external reserves continue to climb, hitting $41.70 billion as of September 12, 2025. Analysts say the currency’s appreciation signals a positive outlook for the economy.
