Naira
By Olayiwola Mercy
The Naira has appreciated against the US dollar in both the official and parallel markets, with the currency trading at N1,452.79 per dollar on Monday, October 27, 2025. According to data from the Central Bank of Nigeria (CBN), the Naira gained N5.16 compared to Friday’s rate of N1,457.95, representing a 0.35% appreciation and extending the weeklong positive trend recorded in the previous week.
The Association of Bureau De Change Operators of Nigeria (ABCON) commended the month-long strengthening of the Naira across both official and parallel markets. ABCON President Dr. Aminu Gwadabe attributed the currency’s gains to several key factors, including Nigeria’s removal from the Financial Action Task Force (FATF) grey list, increased oil revenue, rising foreign reserves, and steady inflows from diaspora remittances.
Gwadabe congratulated the nation on its exit from the FATF grey list, noting that the Naira appreciated by about N10 at the parallel market on Monday following the development. He added that the move has boosted investor confidence and attracted more foreign investments into the country. The CBN’s effort to raise foreign reserves to approximately $42.26 billion has provided a strong buffer for the currency.
The sustained stability has reduced speculation, rendering speculators’ activities ineffective in the market. In the parallel market, the Naira strengthened to N1,485 per dollar on Monday, up from N1,500 on Friday, October 25, 2025, indicating a gain of N15 against the dollar. The Naira’s recent appreciation is a positive development for the Nigerian economy.
