In April 2026, the naira recorded a modest but clear recovery.
The currency closed April at ₦1,374/$, rising from ₦1,387/$ in March.
The Central Bank of Nigeria (CBN) published this data.
The result marked the first April gain since 2024.
Naira Records First April Gain In Years
The naira opened April at ₦1,376/$ in the official market.
It briefly weakened before it began a steady recovery.
By April 16, it reached ₦1,341.01/$, its strongest point.
Later, it stabilised and ended the month at ₦1,374/$.
Throughout April, trading stayed within ₦1,340 to ₦1,389.
As a result, volatility fell compared with March.
Improved FX Liquidity And Stability
In March, the naira dropped to ₦1,425/$ before it recovered.
It then closed the month at ₦1,387/$.
Therefore, April showed improved market sentiment.
Meanwhile, stronger FX inflows supported the naira during April.
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Diaspora remittances and oil earnings increased dollar supply.
At the same time, speculative demand for dollars eased.
Consequently, liquidity improved across the FX market.
In addition, daily price swings became less severe.
The Central Bank also tightened monetary policy during the period.
It actively managed liquidity across the FX system.
Furthermore, it maintained restrictions on Bureau De Change access.
These actions reduced distortions in the foreign exchange market.
They also helped stabilise trader expectations.
Reserves Pressure Despite Naira Recovery
On a yearly basis, the naira strengthened significantly.
It stood at ₦1,602/$ in April 2025.
Thus, the currency recorded strong year-on-year gains.
However, external reserves fell by $731 million in April.
This decline occurred within the first three weeks.
Despite this, the CBN maintained confidence in recovery.
It projected reserves would reach $51 billion by 2026.
Overall, April reflected improved stability in Nigeria’s FX market.
