The Nigerian naira on Tuesday continued its free fall against the dollar across official and parallel foreign exchange markets on Tuesday amid inaction by the Central Bank of Nigeria.

CBN data showed that it depreciated on Tuesday to N1,384.29 per dollar, down from N1,378.0246 on Monday.

This means that on a day-to-day basis, the Naira dipped by N6.26 against the dollar.

Similarly, at the black market, the Naira dropped by N10 to N1390 per dollar on Tuesday from N1380 traded on Monday.

DAILY POST reports that the disparity between both foreign exchange markets stood at N5.71 per dollar as of Tuesday.

In more than eight days now, the naira has sustained depreciation against the dollar after the apex bank mopped up dollars from the market.

This comes despite the continued surge of the country’s external reserves, which stood at $49.69 billion as of February 27, 2026.

Recall that on Tuesday, President Bola Tinubu nominated Taiwo Oyedele, former of the Presidential Fiscal Policy and Tax Reforms Committee, as Minister of State, Finance, a ministry supervised by Minister of Finance Wale Edun.