Economy
Naira Now N1,386/$1 at Official FX Market, N1,465/$1 at Black Market
By Adedapo Adesanya
The Naira maintained its positive performance against the United States Dollar in the different segment of the foreign exchange (FX) market on Friday, January 30.
In the black market, the Nigerian currency appreciated against the greenback yesterday by N5 to sell for N1,465/$1 compared with the previous day’s N1,470/$1, and at the GTBank forex desk, it gained N7 to close at N1,419/$1 compared with Thursday’s closing price of N1,426/$1.
In the the Nigerian Autonomous Foreign Exchange Market (NAFEX) segment, the local currency firmed up against the Dollar during the session by N10.44 or 0.75 per cent to trade at N1,386.55/$1 versus N1,396.99/$1.
Also, the domestic currency appreciated against the Pound Sterling in the official FX market by N25.81 to end at N1,906.23/£1 compared to the N1,932.04/£1 quoted on Thursday, and gained N19.56 on the Euro to close at N1,652.22/€1, in contrast to the preceding session’s closing price of N1,671.78/€1.
The Naira continues to pick form, boosted by stronger FX liquidity, enhanced price discovery at the NAFEX, and a gradual restoration of offshore investor confidence.
Nigeria’s external reserves, which provide the Central Bank of Nigeria (CBN) with the capacity to defend the Naira and stabilise the foreign exchange market, have continued to grow steadily. According to data from the apex bank, gross external reserves rose to $46.17 billion as of January 29, 2026.
FX supply is further supported by strong oil-related inflows and resilient diaspora remittances, which continued to average around $5 billion per quarter, providing a stable and non-cyclical source of foreign exchange liquidity.
Market traders expect the Naira to remain fairly stable and could strengthen further with a bond auction in the coming week.
Nigeria’s external reserves, which provide the CBN with the capacity to defend the naira and stabilise the foreign exchange market, have continued to grow steadily. According to CBN data, gross external reserves rose to $46.17 billion as of January 29, 2026.
In the cryptocurrency market, it further weakened as the US Dollar recovered from a four-year low decline.
Friday’s Dollar strength followed President Donald Trump’s announcement that he would pick former Federal Reserve Governor Kevin Warsh to head the US central bank when Mr Jerome Powell’s term ends in May.
Cardano (ADA) fell by 3.9 per cent to $0.3118, Ethereum (ETH) declined by 2.1 per cent to $2,676.83, Ripple (XRP) depreciated by 1.6 per cent to $1.72, Dogecoin (DOGE) lost 0.9 per cent to sell for $0.1130, and Litecoin (LTC) slid by 0.1 per cent to $64.03.
However, Solana (SOL) added 2.0 per cent to close at $117.67, Bitcoin (BTC) appreciated by 1.0 per cent to $83,416.99, and Binance Coin (BNB) gained 0.6 per cent to sell for $847.49, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
Economy
Naira Slips to N1,358/$1 as FX Reserves, Policy Uncertainty Concerns
By Adedapo Adesanya
It was not a good day for the Nigerian Naira in the currency market on Friday, April 24, as its value depreciated against the major foreign currencies at the close of transactions.
In the Nigerian Autonomous Foreign Exchange Market (NAFEX), it lost N4.53 or 0.33 per cent against the United States Dollar yesterday to trade at N1,358.44/$1, in contrast to the N1,353.91/$1 it was exchanged on Thursday.
Equally, the domestic currency slipped against the Pound Sterling in the official market during the session by N8.14 to close at N1,834.02/£1, compared with the previous rate of N1,825.88/£1 and dropped N8.01 against the Euro to sell at N1,590.73/€1 versus N1,582.72/€1.
Also, the Naira depreciated against the US Dollar at the GTBank FX desk on Friday by N4 to quote at N1,370/$1 compared with the previous session’s N1,366/$1, and at the parallel market, it depleted by N5 to settle at N1,380/$1 versus the preceding day’s N1,375/$1.
Data published by the Central Bank of Nigeria (CBN) indicated that NFEM interbank turnover surged to N43.562 million across 68 deals, up from N28.117 million the previous day.
Despite the CBN’s reassurance that the recent drop in external reserves is not worrisome, the market remains unsettled by persistent concerns over liquidity constraints, policy transparency, and weakening confidence in Nigeria’s FX market as gross reserves continue to decline to $48.4 billion.
The outlook for the Dollar appears supported by broader macro risks, including elevated oil prices tied to the tanker traffic disruptions in the Strait of Hormuz and a continued US-Iran standoff over ceasefire negotiations.
A look at the digital currency market showed that investors are sitting on the edge as the US Dollar rebounded amid geopolitical and inflation risks despite continued inflows into US spot bitcoin Exchange Traded Funds (ETFs).
Solana (SOL) rose by 1.2 per cent to sell $86.45, Cardano (ADA) appreciated by 1.1 per cent to $0.2517, Dogecoin (DOGE) grew by 0.9 per cent to $0.0989, Ripple (XRP) improved by 0.3 per cent to $1.43, Ethereum (ETH) soared by 0.2 per cent to $2,316.83, and Binance Coin (BNB) chalked up 0.1 per cent to sell for $637.44.
However, TRON (TRX) depreciated by 1.3 per cent to $0.3235, and Bitcoin (BTC) lost 0.2 per cent to close at $77,562.27, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.
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