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NIGERIA IN BRIEF: The naira surges to a three-year black market high of N1,345… - BUSINESSDAY

FEBRUARY 27, 2026

BRIEF: The naira surges to a three-year black market high of N1,345. Iyabo Obasanjo warns Solomon Adeola against “opportunistic politics” ahead of 2027. Nigeria’s 2026 World Cup hopes rest on a ruling by FIFA, and a profit squeeze forces IHS Towers into asset sales.

The naira recorded its strongest convergence in two years on Thursday as the gap between the official and parallel markets narrowed to 0.29 per cent. The currency rallied to a three-year high of N1,345 per dollar in the black market, gaining N25 or 1.86 percent from N1,370 on Wednesday, according to BusinessDay data.

However, at the Nigerian Foreign Exchange Market window, figures from the Central Bank of Nigeria showed the naira weakened slightly by N3.24 or 0.24 per cent to close at N1,341.35 per dollar, compared to N1,338.11 the previous day.

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