By Onu Okorie

Nigerian naira strengthened against the United States dollar on Thursday, September 3, 2026, as trading in the foreign exchange market showed renewed gains for the local currency.
Available market data put the dollar at about ₦1,323.63, representing a decline in the dollar’s value against the naira from the previous session. The rate was also broadly consistent with the official market level reported by the Central Bank of Nigeria CBN.
The CBN’s Nigerian Foreign Exchange Market NFEM data showed an official rate of ₦1,326.6862 per dollar on September 2, with the official rate determined on a volume-weighted basis.
The movement came as the naira continued to benefit from improved conditions in Nigeria’s foreign-exchange market. Recent market reports have pointed to stronger foreign-exchange inflows and increased intervention by the CBN as factors supporting the currency. Proshare reported that Nigeria’s FX market had rebounded on rising inflows, while CBN dollar sales also helped strengthen the naira.
The latest appreciation also comes against the backdrop of mixed movements in global currency markets. The US dollar weakened broadly on Thursday, with the dollar index falling about 0.4 per cent, while the Japanese yen recorded a strong rally. The euro and pound also gained against the greenback.
Global investors, meanwhile, remained focused on monetary-policy expectations in the United States, geopolitical tensions and movements in crude oil prices. Brent crude traded above $95 per barrel amid renewed tensions involving the United States and Iran, developments that could have implications for inflation, capital flows and currencies globally.
For Nigeria, sustained naira gains could ease pressure on importers and businesses that require foreign exchange, while also helping to moderate the naira cost of imported goods and services if the trend is maintained.
However, market participants are expected to continue watching the level of dollar demand from importers, foreign investors and other authorised users, as well as CBN interventions and the supply of foreign exchange through the official market.
CBN/NFEM previous reported rate: ₦1,326.69/$. Naira appreciation. Key drivers: FX liquidity, dollar supply, CBN market interventions and broader weakness in the US dollar.