The naira slid against the US dollar at the official foreign exchange market on Wednesday.
According to data from the Central Bank of Nigeria (CBN), the naira fell to ₦1,420.04 per dollar, down from ₦1,419.66 recorded on Tuesday, marking a daily depreciation of ₦0.38.
Reports that this is the first decline against the dollar this week.
In the parallel market, however, the naira remained stable at ₦1,490 per dollar, unchanged from the previous day.
The depreciation comes despite Nigeria’s foreign reserves continuing to rise, reaching $45.74 billion as of January 12, 2026, according to the CBN.
Prior to Wednesday, the naira had recorded two consecutive days of gains against the dollar in the official market on Monday and Tuesday.
“Sir Bartholomew White Ebe is a Lagos-based media personality, Music Artist, Producer, and a Relationship Coach and independent journalist. With over seven years of experience tracking political developments and cultural shifts in Nigeria, he specializes in local current affairs, grassroots politics, and community-driven reporting across Lagos State. As the founder and chief editor of Snow Multimedia Connect {SNOW TV}, he leads the editorial team to deliver verified, high-impact stories to digital audiences.”
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