To start the week on a positive note, the naira strengthened versus the dollar on the official foreign currency market. 

According to data from the Central Bank of Nigeria, it increased to N1,354.26 per dollar on Monday from N1,366.19 at the end of business on Friday, February 6, 2026. 

This indicates that, in comparison to the N1,366.19 traded last week, the Naira saw a notable N11.93 gain versus the dollar on Monday. 

Monday's Naira rise is the best the currency has done since May 29, 2024, when it was trading at N1,329.65 to the dollar.

According to several Bureau De Change operators in Wuse Zone 4, Abuja, the Naira fell by N5 to N1455 per dollar on Monday on the black market, from N1450 on Friday of last week. 

As of February 5, 2026, Nigeria's foreign reserves were valued at $46.91 billion. After days of gains, the Naira slightly declined at the official foreign exchange last Friday, closing at N1,366.19 per dollar.

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