Nigeria News
Naira extends slide, crashes for third straight day against dollar
The naira continued its downward trend on Wednesday, marking a third consecutive loss against the United States dollar at the official foreign exchange window.
Figures released by the Central Bank of Nigeria showed the local currency weakened further to N1,356.11 per dollar, compared to N1,355.37 recorded on Tuesday. This reflects a day-on-day depreciation of N0.74.
It was gathered that over the past three trading sessions, the naira has shed a total of N6.87, following the apex bank’s move to mop up foreign exchange from the market.
At the parallel market, the currency also declined, losing N5 to trade at N1,375 per dollar on Wednesday, down from N1,370 the previous day.
The sustained depreciation comes even as Nigeria’s foreign reserves climbed to $49.39 billion as of February 24, 2026.
Naira extends slide, crashes for third straight day against dollar
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