The naira bounced back, appreciating against the dollar at the official foreign exchange market on Thursday.
Central Bank of Nigeria exchange rate data indicated that the naira strengthened to N1586.15 per dollar on Thursday from N1590.74 on Wednesday.
This means that the naira recorded a N4.59 gain against the dollar on a day-to-day basis.
Meanwhile, at the black market, the naira fell by N3 to N1,623 per dollar on Thursday from N1,620 traded on Wednesday.
Media Talk Africa reports that on Wednesday, the naira recorded depreciation across foreign exchange markets.
Tinubu, in his statement to mark his second anniversary on May 29, 2025, said Nigeria’s policies are geared towards stabilising the country’s economy. “We have stabilised our economy,” he stated.
Media Talk Africa reports that Bismark Rewane, chief executive officer of Financial Derivative, had identified elevated inflation, rising debt, and others as the less satisfactory areas of the Nigerian economy in the first two years of President Bola Ahmed’s administration.
