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The Naira exchange rate recorded a major win today, strengthening to ₦1,354.26 at the official window.

Nigeria’s Naira kicked off the trading week on a strong note, gaining significant ground against the US dollar at the official market on Monday.

Fresh data from the Central Bank of Nigeria (CBN) shows the currency strengthened to ₦1,354.26 per dollar. 

This is a noticeable improvement from the ₦1,366.19 recorded at the close of business last Friday, marking a solid gain of ₦11.93.

This surge is a milestone for the local currency. It represents the Naira’s strongest performance at the official window in nearly two years, coming close to levels last seen in May 2024.

While the official market celebrated, the parallel market often called the black market told a slightly different story. In Abuja’s Wuse Zone 4, Bureau De Change operators reported a small dip, with the Naira trading at ₦1,455 per dollar, down from Friday's ₦1,450.

Despite the split between the two markets, Nigeria’s financial backup remains robust. The country's foreign reserves stood at a healthy $46.91 billion as of February 5th, 2026, offering a level of stability as the week begins.