From Seun Johnson
Nigeria’s currency continued its downward trend against the United States dollar, marking a second straight week of depreciation across both official and parallel foreign exchange markets.
Figures published on Friday by the Central Bank of Nigeria showed that the naira closed at ₦1,393.26 per dollar, weaker than the ₦1,387.45 recorded earlier in the week.
This represents a daily decline of ₦5.81, while the currency has lost ₦29.87 over the past week. Over a two-week period, the naira has shed ₦46.94 in value at the official market.
The pressure on the local currency was also evident in the parallel market. Checks with Bureau de Change traders in Wuse Zone 4, Abuja, indicated that the naira exchanged at about ₦1,415 per dollar on Friday.
The latest figure reflects a ₦45 drop compared with the ₦1,370 per dollar rate reported on February 23, 2026, highlighting continued weakness of the currency in the informal market.
