President Bola Ahmed Tinubu says the naira will appreciate to N1,000 per dollar in the coming weeks, citing ongoing monetary policy interventions by the Central Bank of Nigeria.
President Bola Ahmed Tinubu has said the naira will strengthen to N1,000 per dollar in the coming weeks, attributing the expected appreciation to policy measures implemented by his administration. The President made the disclosure during his remarks at the Renewed Hope Ambassadors Summit held in Abuja on Tuesday, noting that recent interventions by the Central Bank of Nigeria were stabilising the currency.
He confirmed that the apex bank intervened on Monday by mopping up excess dollars to support the naira. According to him, the administration’s monetary policy direction is already producing results. “In fact, if not for the interventions by the Central Bank of Nigeria yesterday (Monday), the N1,000 to a dollar, we are going to attain it in weeks, not in months,” Tinubu said.
Meanwhile, the naira depreciated to 1,355.3745 and N1,370 per dollar on Tuesday across the official and parallel markets. The Governor of the Central Bank of Nigeria, Olayemi Cardoso, disclosed during a briefing after the bank’s 304th Monetary Policy Committee meeting that the country’s gross external reserves rose to a 13-year high of $50.45 billion as of February 16, 2026.
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