The naira ended the buying and selling week on a stronger be aware throughout the international trade (FX) markets, appreciating towards the greenback as Nigeria’s exterior reserves continued on a gradual development path, reinforcing market confidence.
Knowledge revealed by the Central Financial institution of Nigeria (CBN) confirmed that the naira appreciated by 1.5 % week-on-week on the Nigerian Overseas Alternate Market (NFEM), closing at N1,366.19 per greenback on Friday, the final buying and selling day of the week, in contrast with N1,386.55 on the earlier Friday, which marked the ultimate buying and selling day of January 2026.
Over the 5 buying and selling periods, the native forex posted constant beneficial properties, strengthening from N1,390.36 per greenback on Monday, the primary buying and selling day of the week and month, to N1,366.19 on Friday. On a day-on-day foundation, the naira closed nearly flat, depreciating marginally by N13 from N1,366.06 on Thursday, on the NFEM within the earlier session.
Learn additionally: Naira cools after ten-day gains on dollar demand
Within the parallel market, generally known as the black market, the naira remained steady all through the week, holding at N1,450 per greenback, in response to information from road merchants.
Nigeria’s exterior buffers additionally continued to enhance. Gross exterior reserves rose to $46.91 billion as of February 5, 2026, from $46.70 billion recorded on January 29, 2026, CBN information confirmed. The rise underscores the nation’s improved capability to satisfy international obligations and supply help to the FX market.
The economic system additionally recorded the next web international trade influx within the third quarter of 2025, largely pushed by a discount in outflows by means of the banking channel. Web international trade influx rose to $17.46 billion in Q3, 2025, in contrast with $14.46 billion within the previous quarter. Mixture international trade influx declined by 4.17 % to $26.27 billion, from $27.41 billion within the second quarter of 2025, whereas complete international trade outflow fell sharply by 32.01 % to $8.80 billion, from $12.94 billion within the earlier quarter.
Learn additionally: Naira maintains steady rise, hits N1,358.28 as reserves grow
Additional particulars confirmed that international trade influx by means of the banking system elevated barely by 3.56 % to $10.04 billion in the course of the interval, from $10.02 billion, whereas autonomous influx declined by 8.62 % to $15.89 billion, from $17.39 billion within the previous quarter. On the outflow facet, transactions by means of the Financial institution decreased considerably by 47.39 % to $5.21 billion, from $9.82 billion, whereas outflows by means of autonomous sources rose by 19.34 % to $3.59 billion, from $3.01 billion.
Because of this, a web influx of $5.17 billion was recorded by means of the Financial institution, a pointy enchancment from $0.09 billion within the second quarter of 2025, whereas autonomous sources recorded a web influx of $12.30 billion, in contrast with $14.38 billion within the earlier quarter.
