- Naira Will Appreciate to N1,000 per Dollar in Weeks – Tinubu
- Says CBN Action to Stabilise Naira Paying Off
- Olayemi Cardoso disclosed after the apex bank’s 304th Monetary Policy Committee meeting that Nigeria’s gross external reserves rose to a 13-year high of $50.45 billion as of February 16, 2026
President Bola Ahmed Tinubu has expressed optimism that the naira will appreciate to N1,000 per dollar in the coming weeks.
Eko Hot Blog reports that the President made the remark on Tuesday at the Renewed Hope Ambassadors Summit in Abuja, stating that recent monetary policy interventions are beginning to yield results.
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Tinubu disclosed that the Central Bank of Nigeria intervened on Monday by mopping up excess dollars in circulation to stabilise the local currency.
“In fact, if not for the interventions by the Central Bank of Nigeria yesterday, the N1,000 to a dollar, we are going to attain it in weeks, not in months,” he said.
According to reports, the naira traded at 1,355.3745 at the official window and around N1,370 per dollar on the parallel market on Tuesday.
Meanwhile, Governor of the Central Bank of Nigeria, Olayemi Cardoso, disclosed after the apex bank’s 304th Monetary Policy Committee meeting that Nigeria’s gross external reserves rose to a 13-year high of $50.45 billion as of February 16, 2026.
Cardoso noted that the improvement in external reserves reflects stronger liquidity buffers and continued monetary tightening aimed at restoring confidence in the foreign exchange market.
