NAIRA EXTENDS SLIDE WITH THREE STRAIGHT DAYS OF DEPRECIATION AGAINST DOLLAR

The Naira on Wednesday recorded a three-day consecutive decline against the United States dollar at the official foreign exchange market.

Data from the Central Bank of Nigeria showed that the currency fell to ₦1,356.11 per dollar on Wednesday, down from ₦1,355.37 on Tuesday—a daily loss of ₦0.74.

Over the past three days, the Naira has weakened by ₦6.87 following the apex bank’s intervention to mop up foreign exchange from the market.

At the parallel market, the Naira also depreciated by ₦5, trading at ₦1,375 per dollar on Wednesday, compared with ₦1,370 the previous day.

This depreciation occurred despite Nigeria’s foreign reserves rising to $49.39 billion as of February 24, 2026.