Nigerian naira reached its strongest point this year on Thursday, trading at N1,455.23 per dollar in the official foreign exchange market.
Gatekeepers News reports that this marks a 1.36 percent gain compared to the September 30 rate of N1,475.34/$, and is the first time since May 2024 that the currency has entered the N1,400 range.
This development reflects the naira’s most significant performance of 2025, and also its best showing since the Central Bank of Nigeria (CBN) rolled out Electronic Foreign Exchange Matching System (EFEMS).
In the parallel market, the naira also recorded progress, moving to N1,480 per dollar from the N1,485/$ seen on September 30. This improvement represents its strongest performance so far this year in the unofficial trading space.
During his Independence Day address on October 1, President Bola Ahmed Tinubu expressed confidence that the national currency had regained balance after the turbulence of the previous two years.
