Naija247news – Lagos, September 15, 2025 — The Nigerian naira surged to a five-month high of N1,497.46 per dollar at the official market on Monday, buoyed by improved foreign exchange (FX) liquidity and easing demand pressures, in what policymakers describe as a signal of growing stability in the currency market.
The last time the local currency traded stronger than this level was on March 4, 2025, when it closed at N1,491.67 at the Nigerian Foreign Exchange Market (NFEM).
Insights from the Monetary Policy Committee (MPC) reveal broad consensus that the currency is on a stable trajectory, supported by reforms and stronger reserve buffers.
Analysts say Nigeria’s FX outlook is being bolstered by reforms that reduce arbitrage opportunities, strong portfolio inflows, and proactive CBN measures. With reserves covering nearly 10 months of imports and speculative activities sharply down, MPC members argue the naira is set to maintain medium-term stability, even amid global uncertainties.
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Reporting by Peter Anene, Business Editor in Lagos, Nigeria.
