By Juliet Ezeh
The Nigerian Naira recorded mixed movements against the US Dollar on February 19, 2026, as trends diverged between the official and parallel markets, resulting in a reduced gap between the two exchange rates.
According to market data, the official Naira rate (NAFEM) edged slightly lower, trading at around N1,340 per dollar, down from N1,337 recorded the previous day. Meanwhile, the parallel market saw the Naira strengthen, reaching approximately N1,380 per dollar, up from N1,385 on Tuesday. This brought the differential between the official and black market rates down to N40 per dollar, compared with N48 earlier in the week.
Analysts attributed the Naira’s performance to several factors. Nigeria’s foreign reserves rose to $48.50 billion as of February 17, 2026, providing the Central Bank of Nigeria (CBN) with more room to manage liquidity and support currency stability. In the parallel market, traders noted that a decline in retail demand for dollars contributed to the recent appreciation of the local currency.
Experts also highlighted the role of policy stability, saying the official rate remains anchored below the N1,400 mark due to the CBN’s careful liquidity interventions via the Electronic Foreign Exchange Matching System (EFEMS).
Looking ahead, some institutional forecasts, including those from the CBN, indicate that foreign reserves could surpass $51 billion later in 2026, potentially supporting further stability in the Naira’s value.
The mixed performance underscores the continued importance of coordinated monetary management as Nigeria navigates fluctuating demand pressures in both official and informal currency markets.
Juliet Ezeh is the founder and chief reporter at Westbridge Reporters with over 7 years of experience in journalism. She covers crime, industry, policy, and social developments, delivering timely and accurate reporting.