President Bola Tinubu on Tuesday said the naira would appreciate to about N1,000 per dollar in the coming weeks.
The President made the remark during the renewed hope ambassadors summit held in Abuja, noting that recent actions by the apex bank helped stabilise the local currency.
According to him, the central bank intervened in the foreign exchange market by mopping up excess dollars to support the naira.
Tinubu said,“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 added that the administration’s monetary policies were beginning to produce positive results.
However, the naira traded at about N1,355.37 at the official market and around N1,370 per dollar at the parallel market on Tuesday.
Meanwhile, the Governor of the Central Bank of Nigeria, Olayemi Cardoso, said Nigeria’s gross external reserves rose to $50.45bn as of February 16, 2026, the highest level recorded in over a decade.
