The Nigerian Naira strengthened at the start of Thursday’s trading in the Nigerian Foreign Exchange Market (NFEM), exchanging at about N1,344.20 to the dollar.
Early market data around 7:00 a.m. WAT showed the currency holding steady, briefly reaching N1,343.83 before stabilising within the same range.
Market watchers link the modest gain to increased foreign exchange inflows and ongoing interventions by the Central Bank of Nigeria to reduce outstanding FX demand.
Analysts say sentiment remains positive for now, supported by recent policy measures aimed at restoring confidence in the currency.
Still, they caution that pressure could persist, as demand for dollars—particularly for school fees abroad, travel, and imports—continues to influence market direction.
