Olushola Omogbehin
President Bola Ahmed Tinubu has said the naira will appreciate to N1000 per dollar in the coming weeks.
Tinubu made this remark during the renewed hope ambassadors summit held in Abuja.
The president said that recent intervention of the Central Bank of Nigeria where excess dollars was mopped up has helped stability of the local currency.
According to him, monetary policy measures by his administration are yielding results.
“In fact, if not for the interventions by the Central Bank of Nigeria yesterday (Monday), the N1,000 to a dollar, we are going to attain it in weeks, not in months.”
Meanwhile, the naira traded at about N1,355.37 at the official market and around N1,370 per dollar at the parallel market on Tuesday.
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, said Nigeria’s gross external reserves rose to $50.45bn as of February 16, 2026, the highest level recorded in over a decade.
