The Naira appreciated to N1,355.25/$ at the official foreign exchange market on Friday, April 11, 2026, marking its strongest level in recent sessions. This appreciation is according to data published on the Central Bank of Nigeria (CBN) website. The gain comes despite a continued decline in Nigeria’s external reserves, raising concerns about the sustainability of the currency’s recovery.

The latest performance reflects a steady appreciation trend recorded throughout the shortened trading week following the Easter holiday. Trading resumed on Tuesday after the Easter break, with the Naira strengthening consistently across the week.

What the data is saying

Data from the CBN shows that the Naira recorded steady gains for most trading days, despite an initial weakness on Tuesday after the holiday. The currency traded at N1,389/$ on Tuesday, strengthening to N1,369/$ on Wednesday. It further appreciated to N1,365/$ on Thursday before closing at N1,355.25/$ on Friday. This marks an improvement from the pre-Easter close of N1,382.75/$ recorded on Thursday, April 2, 2026. On a year-on-year basis, the Naira has strengthened significantly from N1,606/$ recorded after Easter in April 2025. The data highlights a reversal from last year’s post-Easter depreciation trend, indicating improved short-term currency stability.

The Naira’s recent performance comes against the backdrop of ongoing monetary and foreign exchange reforms by the Central Bank of Nigeria.