The Central Bank of Nigeria’s (CBN) Daily Nigerian Foreign Exchange Market (NFEM) rates showed a continued steady appreciation of the naira (₦) on Thursday, trading at ₦1,553.11 to the US dollar in the official forex market.
CBN data revealed that the naira gained ₦12.35, equivalent to a 0.79 per cent increase compared to Wednesday’s rate of ₦1,565.46 per dollar.
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The naira has maintained this upward trend, having traded at ₦1,579.27 on Tuesday and ₦1,581.58 on Monday.
Following a bullish close last week, the naira also opened the new week with a gain of ₦4.56.
These consistent gains coincided with the commencement of the recapitalisation process for Bureau De Change Operators (BDCs) on 3 June 2025.
