Foreign exchange turnover in the Nigerian Foreign Exchange Market (NFEM) fell sharply on Monday, September 7, dropping to N107.07 million, its lowest level in five months, according to Nairametrics. The decline in trading activity came as the naira strengthened against the US dollar, firming to N1,320 per dollar. The report highlights a notable slowdown in market turnover even as the local currency recorded gains in the official foreign exchange window.

The naira opened the week marginally stronger at Nigeria's official foreign-exchange window, improving to N1,320.56 per dollar from N1,321.22, while its parallel-market value held steady. According to Zalebs, the move followed a rise in the country's foreign-exchange reserves to $54.13 billion and came after the currency's decline on Friday ended a four-session advance.

According to the Central Bank of Nigeria's monthly economic report for February 2026, net foreign exchange inflow into the economy decreased by 24 percent month-on-month, falling to $6.92 billion from $9.22 billion in January. The report indicated that this decline was driven by various factors, although specific reasons were not detailed in the blurb.

The Central Bank of Nigeria has updated its exchange rates as the naira appreciated against the US dollar, trading at N1,320.25 per dollar at the Nigerian Foreign Exchange Market (NFEM). According to Legit.ng, the appreciation coincided with the country's foreign exchange reserves climbing above $54 billion, a development said to have strengthened confidence in the currency.

The Nigerian naira has depreciated by at least N9 against the United States dollar at the Central Bank of Nigeria's official foreign exchange window, according to Tribune Online.

The naira experienced its most significant daily decline since April, closing at N1,389 per dollar in the official foreign exchange market on June 24, 2026, according to Nairametrics.