During the week ended 10 Oct 2025, Nigeria’s currency the Naira extended its recovery at the official market, gaining 0.72% to close ₦1,455.17/$.

According to data from the Central Bank of Nigeria (CBN), this is the strongest the naira has been since December 2024.

At the parallel market, the naira upticked 0.88% to close ₦1,475/$, likewise bolstered by improved liquidity.

Analysts say the naira’s recent sustained bullishness is propelled by diaspora remittances and portfolio FX inflows.

The country’s external reserves also rose to $42.57bn, fortified by oil sale inflows, remittances, and portfolio investments.

This steady climb of FX reserves empowers CBN to manage near-term challenges and gives hope of naira stability in the short to medium term.