ABUJA, Nigeria (VOICE OF NAIJA)-The naira extended its decline against the United States dollar at the official foreign exchange market on Tuesday.
Data from the Central Bank of Nigeria indicated that the currency weakened further to N1,355.37 per dollar on Tuesday, compared to N1,349.24 on Monday.
This represents a day-on-day depreciation of N6.13 against the dollar.
At the parallel market, however, the naira remained unchanged at N1,370 per dollar on Tuesday, the same rate recorded the previous day.
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The development comes as President Bola Ahmed Tinubu, speaking at an event held at the Presidential Villa on Tuesday, confirmed that the Central Bank of Nigeria intervened by mopping up dollars in the foreign exchange market to help stabilize the naira.
Meanwhile, the apex bank governor, Olayemi Cardoso, disclosed that the country’s gross external reserves rose to a 13-year high of $50.45 billion as of February 16, 2026.
The naira had also recorded depreciation against the dollar across foreign exchange markets on Monday.