Naira Gains Slightly Against Dollar Amid Rising Reserve

The Nigerian naira strengthened slightly against the United States dollar at the official foreign exchange market, just a day after recording a depreciation.

Central Bank of Nigeria (CBN) data showed that the naira appreciated to N1,419.35 on Tuesday, up from N1,420.28 on Monday, representing a gain of N0.93 in 24 hours.

At the parallel (black) market, the naira remained stable at N1,493 per dollar, unchanged from the previous day.

The modest appreciation comes amid a continued rise in Nigeria’s external reserves, which increased to $45.95 billion as of Tuesday, January 19, 2026, up from $45.90 billion last Friday.

The naira’s brief dip on Monday at the official market appears to have been offset by this uptick in reserves, signaling some stability in the country’s foreign exchange dynamics.