The naira recorded significant appreciation against the parallel foreign exchange market on Monday following the Christian holidays.

A Bureau De Change operator in Wuse Zone 4, Abubakar Hassan, told DAILY POST that the naira exchanged at N1,475 per dollar on Monday, up from N1,490 traded before the Christmas holidays.

“It was due to drop in demand,” he said.

This represents a significant boost of N15 against the US dollar on Monday.

Similarly, data from the Central Bank of Nigeria showed that the naira also strengthened on Monday to N1,442.51 per dollar, up from N1,443.38 on Wednesday, 24 December 2025. At the official market, the naira recorded a N0.87 gain compared with the N1,443.38 traded on Christmas Eve.

The development comes as the country’s external reserves grew by 7.28 per cent on a month-on-month basis.