Naira slips 1.1% despite higher FX turnover

•CBN to sustain liquidity support
The naira closed June 2026 slightly weaker in the official foreign exchange market despite a surge in trading activity that underscored improving liquidity and growing resilience in Nigeria’s currency market.
Data from the Central Bank of Nigeria (CBN) showed the local currency closed the month at N1,381/$1, compared with N1,366/$1 at the beginning of June, representing a depreciation of N15, or about 1.1 per cent.
Although the currency weakened marginally during the month, market experts say the movement reflects a more orderly market compared with the sharp volatility experienced in 2024 and early 2025.
Throughout June, the naira traded within ...