Following apparent support by the European Union (EU) and China for Nigeria over Donald Trump military threats, the financial markets appear to have returned from the woods, with the naira bouncing back against the dollar Tuesday.
The naira bounced back against the United States dollar at the official market on Tuesday, in spite President Donald Trump’s threat of military action in Nigeria.
Data from the Central Bank of Nigeria showed that the naira strengthened to N1,433.66 per dollar on Tuesday, up from N1,436.34 recorded the previous day.
This indicates that the naira gained N2.68 against the dollar on a day-to-day basis.
Similarly, on the black market, the naira appreciated to N1,450 per dollar on Tuesday, up from N1,460, according to multiple Bureau de Change operators in Wuse Zone 4, Abuja.
This development comes as Nigeria’s external reserves rose further to $43.259 billion in November 2025, up from $43.197 billion at the end of last month.
Recall that on Monday, the naira had depreciated sharply against the dollar, beginning the week on a negative note.
The naira had on Monday depreciated by 1.0 percent against the dollar in the official foreign exchange (forex) market following threats by former U.S. President Donald Trump against Nigeria. In a post on Truth Social on Saturday, Trump said he had instructed the Pentagon “to prepare for possible action” and threatened an immediate cutoff of aid to Nigeria, an OPEC member and Africa’s most populous nation.
Data from the Central Bank of Nigeria (CBN) had shown that the naira lost N14.61 as the dollar closed at N1,436.34 at the Nigerian Foreign Exchange Market (NFEM), compared to N1,421.73 per dollar quoted on Friday.
