The Nigerian naira on Monday recorded a significant appreciation against the United States dollar in the parallel foreign exchange market following the Christmas holidays.
At the popular Wuse Zone 4 currency hub in Abuja, Bureau De Change operator Abubakar Hassan confirmed that the naira traded at ₦1,475 per dollar, stronger than the ₦1,490 per dollar rate recorded before the Christmas break.
According to him, the appreciation was largely driven by a drop in demand for the dollar in the days following the holidays.
This movement represents a ₦15 gain for the local currency at the parallel market on Monday.
Meanwhile, figures from the Central Bank of Nigeria (CBN) also indicated a modest strengthening of the naira at the official window. The currency closed at ₦1,442.51 per dollar, compared to ₦1,443.38 per dollar recorded on Wednesday, December 24, 2025 — marking a ₦0.87 gain.
The positive performance of the naira coincides with a reported 7.28 per cent month-on-month growth in Nigeria’s external reserves, a development analysts say could further support exchange rate stability in the short term.
Market watchers will continue to monitor demand levels and monetary policy actions as trading activities resume fully after the festive season.