Naira continues to depreciate against US dollar despite CBN intervention
Business Naira continues to depreciate against US dollar despite CBN intervention Published on February 24, 2026 By Ogaga Ariemu googletag.cmd.push(function() { googletag.display('div-gpt-ad-1500386953281-8'); }); The Naira continued depreciation against the United States Dollar at the official foreign exchange market on Tuesday. Central Bank of Nigeria data showed that the Naira further dropped to N1,355.37 per dollar on Tuesday, down from N1,349.24 on Monday. This means that on a day-to-day basis, the Naira depreciated by N6.13 against the dollar. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1524595905268-5'); }); Meanwhile at the black market, the Naira remained at N1,370 per dollar on Tuesday, the same rate recorded on Monday. This comes as President Bola Ahmed Tinubu at an event in the presidential villa on Tuesday confirmed that the Central Bank of Nigeria mopped up dollars for the foreign exchange market to stabilize the naira. The apex bank governor, Olayemi Cardoso, said the country’s external reserves hit a 13-year high with a gross of $50.45 billion as of February 16th, 2026. DAILY POST reports that the naira depreciated against the dollar across foreign exchange markets on Monday. Don't Miss Nigerian Naira will appreciate to N1,000 per dollar in coming weeks – Tinubu You may like Nigerian Naira will appreciate to N1,000 per dollar in coming weeks – Tinubu NNPC: CBN backs Tinubu’s executive order on direct oil revenue remittance Thirteen Nigerian banks yet to meet recapitalisation requirement — CBN Kano Assembly seeks action over US move against Kwankwaso CBN cuts interest rate to 26.50% Naira depreciates significantly by N40 against US dollar at black market