The Nigerian Naira maintained its stability against the United States Dollar on Monday, September 21, 2026, trading at ₦1,330.84 to $1 during morning transactions.
The rate reflects relative calm in the official foreign exchange window following recent liquidity injections and policy measures by the Central Bank of Nigeria (CBN).
Trading opened early Monday at 8:00 AM at the Nigerian Autonomous Foreign Exchange Market (NAFEM) venue in Victoria Island, Lagos, with the Naira fluctuating marginally between ₦1,330.04 and ₦1,330.84 per dollar.
Speaking at a financial briefing held at the CBN Headquarters in Abuja, Central Bank Director of Corporate Communications, Hakama Sidi Ali, highlighted the impact of continuous foreign exchange interventions aimed at curbing market volatility.
”Our monetary policy frameworks remain focused on ensuring price stability and deepening foreign exchange liquidity. The convergence between the official and parallel market rates reflects growing investor confidence and sustained dollar inflows from diaspora remittances and crude oil receipts,” Sidi Ali stated during the press briefing.
Financial analysts at Lagos-based investment firm Renaissance Capital noted that the stabilization of the local currency comes as global energy markets provide steady foreign buffer reserves for West Africa’s largest economy.
Dr. Yemi Kale, Chief Economist at KPMG Nigeria, addressed stakeholders at the Annual Bankers’ Forum at the Eko Hotels & Suites in Lagos at 11:30 AM, emphasizing the need for sustained structural reforms:
”While the exchange rate hovering around ₦1,330 is a welcome relief compared to earlier volatility, maintaining this corridor will depend heavily on sustained non-oil export earnings and fiscal discipline.”
Market operators expect trading to remain within the ₦1,325 to ₦1,340 range for the remainder of the week, pending further updates from the Monetary Policy Committee (MPC) meetings scheduled for later this month.
