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Naira Pushes Higher Against Dollar In Official Market

By Benjamin Abioye

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Naira Against Dollar

The Naira appreciated at the official market on Tuesday, February 27, 2025, trading at N1,522.68 to a Dollar, according to data from the FMDQ Security Exchange.

This represents a 0.7% gain compared to Monday’s closing rate of N1,533.63.

In the Investors and Exporters (I&E) Forex window, trading saw a high of N1,536.50 and a low of N1,521.50 on the same day.

Since December 2024, the Naira has remained relatively stable against the US Dollar, following the introduction of the Electronic Foreign Exchange Matching System (EFEMS) by the Central Bank of Nigeria (CBN). Additional reforms introduced in January 2025 further strengthened the local currency.

Analysts during the Nigerian Economic Summit Group (NESG) 2025 Economic Outlook noted that a stable exchange rate would help reduce inflation and potentially boost the nation’s GDP.
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