The naira closed Friday weaker at N1,464.49 per USD on the official CBN market—a 0.4% slide from Thursday’s N1,457.84—erasing Monday’s N2.59 gain as importer dollar hunts overwhelmed supply, pushing steady depreciation through Tuesday (N1,455.08) and Wednesday (N1,455.49).
This volatility echoes Nigeria’s FX tightrope under Tinubu’s reforms, where early-week highs crumble against persistent pressures from oil volatility, election spending and parallel market gaps—despite CBN’s rate hikes and reserve builds hinting at $47B buffers from recent budget talks.
Sustained interventions like diaspora remittances and non-oil exports could rebound the curve, but unchecked demand risks fueling inflation pass-throughs already easing to 14.45% per Tinubu’s NASS pitch—testing if resilience trumps short-term wobbles.
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