Nigeria’s Naira appreciated to N1,400.47 against a dollar at the official foreign exchange (FX) market on Wednesday, January 28. New Telegraph recalls that the last time the exchange rate hit the N1,400 level was in May 2024. According to data from the Nigerian foreign exchange market (NFEM), the country’s official market showed that the currency gained N0.75 or 0.05 per cent from the N1,401.22 per dollar recorded on January 27. At the parallel section of the market, the naira also appreciated to N1,470 per dollar — marking the strongest level since December 1, 2025. In his New Year message, President Bola Tinubu said Nigeria’s foreign reserves have cushioned the naira against external shocks and are expected to improve further in 2026.