On Monday, the Nigerian Naira saw its value decrease once again against the US dollar in the official foreign exchange sector, marking a difficult start to the trading week. Figures released by the Central Bank of Nigeria indicate the currency slid to N1,383.63 per dollar, reflecting a decline from the previous close of N1,380.93.
This shift represents a loss of N2.7 for the Nigerian currency since the last session. In contrast, the parallel market remained steady, with the Naira holding at N1,395 per dollar, matching the rate observed at the end of business on Friday. Bengazzi Abubakar, a currency trader in Abuja, confirmed they are currently purchasing dollars at N1,385 and selling at N1,395. Official data from the apex bank also reveals that as of June 26, 2026, Nigeria held foreign reserves totaling $51.29 billion.
