💹 BoomNews 24 | Business & Economy
🇳🇬 Naira Strengthens Slightly as CBN Interventions Steady the Market
LAGOS, JUNE 20, 2025 —
The Naira recorded slight gains at the official foreign exchange window this past week, strengthening to ₦1,547/$ from ₦1,549/$, supported by targeted interventions from the Central Bank of Nigeria (CBN) aimed at stabilising the market and easing corporate dollar demand pressures.
Financial analysts attributed this modest appreciation to the resilience of the Naira, bolstered by increased foreign exchange inflows from foreign portfolio investors (FPIs). Investment firm Cordros Capital Limited reported that foreign investors brought in much-needed dollars to participate in the CBN’s Open Market Operation (OMO) auction.
The latest OMO auction, part of the CBN’s aggressive strategy to mop up excess liquidity, saw the apex bank offer ₦600 billion across 155-day and 204-day tenors. Investor appetite remained strong, with total subscriptions hitting a massive ₦1.14 trillion. The CBN ultimately allotted ₦1.07 trillion, with stop rates clearing at 24.20% and 24.59%, respectively.
Market Outlook:
- Official Market: The Naira’s 0.13% week-on-week appreciation adds to gains recorded at the Nigerian Foreign Exchange Market (NFEM) since early June.
- Parallel Market: Meanwhile, in the black market, the Naira slipped slightly to ₦1,585/$, reflecting ongoing demand pressures in unofficial channels.
Despite mixed movements across segments, analysts from Cowry Asset Management Limited project the Naira will maintain relative stability in the coming days, supported by continued CBN interventions and improving foreign exchange inflows driven by market reforms.
Cordros Capital echoed this outlook, expressing confidence that the CBN has the tools to manage volatility effectively through strategic interventions whenever necessary.
BoomNews 24 will monitor the currency market and provide updates as Nigeria’s economic reforms evolve.
🖋 By BoomNews 24 Business Desk
