On Friday, the Nigerian Naira experienced a minor decline against the United States dollar in the official foreign exchange market. Figures released by the Central Bank of Nigeria indicate the currency shifted to N1,379.62 per dollar, compared to the N1,378.43 rate observed on Thursday. This represents a daily devaluation of N1.19.
Conversely, the parallel market saw the Naira hold steady at N1,430 per dollar, mirroring the previous day’s closing rate. Over the course of the week, the currency faced consistent pressure, recording losses of N9.43 in the official window and N30 in the black market.
These market fluctuations persist even as Nigeria’s foreign reserves climbed to $51.74 billion by July 9, 2026. Separately, Providus Bank customers have expressed intentions to close their accounts following reports of unauthorized card access by cybercriminals.
