The Nigerian naira continued its downward movement against the United States dollar at the official foreign exchange market on Thursday, reflecting ongoing pressure on the local currency. Data from the Central Bank of Nigeria (CBN) showed that the naira weakened slightly compared to the previous trading day.

According to the CBN figures, the naira exchanged at N1,422.07 per dollar on Thursday, down from N1,420.69 recorded on Wednesday. This represents a depreciation of N1.34 against the dollar within one day. The latest drop adds to the losses recorded earlier in the week, as the naira also declined on Monday and Wednesday.

Meanwhile, the situation at the parallel, or black market, remained unchanged. Traders exchanged the naira at N1,490 per dollar on Thursday, the same rate seen the previous day. This stability in the informal market contrasts with the steady weakening observed at the official window.

The continued depreciation is coming despite a rise in Nigeria’s foreign reserves. According to the apex bank, the country’s external reserves increased to $45.99 billion as of January 21, 2026, up from $45.95 billion recorded on January 19. This development suggests that other market factors are still influencing the naira’s performance.