Naira depreciates significantly by N40 against US dollar at black market

The Naira depreciated importantly against the United States dollar astatine the parallel overseas speech connected Monday.

At the achromatic market, a Bureau de Change Operator successful Wuse Zone 4, Abuja, Abubakar Hassan told DAILY POST that the Naira weakened importantly by N40 to N1,370 per dollar connected Monday, up from betwixt N1,317 and N1,333 traded connected Friday past week.

This is the archetypal important driblet the naira has recorded against the dollar since the Central Bank of Nigeria ordered banks to merchantability a maximum of $150,000 play FX to BDC connected February 10, 2026.

Also astatine the authoritative overseas speech market, the Central Bank of Nigeria’s information showed that the Naira? dipped to N1,349.24 per dollar, down from N1,346.32.

This means that the Naira further dropped connected Monday by N2.92 against the dollar astatine the authoritative overseas speech market.

The downward inclination of the Nigerian Naira comes contempt the country’s sustained surge successful outer reserves, which stood astatine $48.77 cardinal arsenic of 19th February 2026, according to the apex bank.

DAILY POST reports that the CBN Monetary Policy Committee is presently gathering to rotation retired ...