The naira extended its appreciation against the dollar at the official foreign exchange market on Thursday.

Data from the Central Bank of Nigeria showed that the naira firmed further to N1,355.85 against the dollar on Thursday, from N1,357.34 exchanged on Wednesday.

This means that, on a day-to-day basis, the naira slightly gained N1.5 against the dollar.

Similarly, at the black market, the naira strengthened by N3 to N1,393 per dollar on Thursday, up from N1,395 on Wednesday.

Meanwhile, the country’s external reserves continued their declining run as they dropped further to $48.32 billion on May 6, 2026, down from $48.33 billion recorded the previous day, according to apex bank data.

Recall that on Wednesday, the naira appreciated significantly against the dollar at the official market but remained flat at the black market.