Naira Gives Up Some Gains as Central Bank Steps In to Cool FX Surge

Story: Written by springnewsng February 26,2026
The Naira eased slightly after recent gains as the Central Bank of Nigeria intervened in the foreign exchange market by purchasing dollars to slow the currency’s rapid appreciation.
Market watchers say the move is aimed at stabilising the FX market and preventing excessive volatility following weeks of strong naira performance. While the intervention trimmed the local currency’s momentum, analysts believe it reflects the regulator’s balancing act between sustaining confidence and avoiding sharp market distortions.
Despite the pullback, sentiment around the naira remains cautiously optimistic, supported by improved liquidity, tighter monetary measures, and renewed investor interest in Nigeria’s financial markets.