The naira lost ground against the US dollar on Thursday in the official foreign exchange market marking its first depreciation since August 20, 2025. Official data from the Central Bank of Nigeria shows the naira traded at ₦1,502.13 to the dollar on Thursday down from ₦1,500.92 on Wednesday. This reflects a day-to-day weakening of ₦1.21.
In the black market, the rate held steady at ₦1,530 per dollar, unchanged from Wednesday.
The last time the naira had dropped in the official market was on August 20 when it exchanged at ₦1,536.73 per dollar. That fall then had come amid increasing external reserves. As of September 10, 2025, reserves stood at US$41.62 billion.
Emmanuel Onwuka