Business
Naira Declines Amid USD Pressure on February 19, 2026
Naira exchange rate falls against US Dollar as official and parallel market gaps persist, highlighting tensions in Nigeria’s foreign exchange market
Fresh trading data shows the Naira experienced a modest decline against the United States Dollar on Thursday, February 19, 2026, signalling continued tension in Nigeria’s foreign exchange market.
Also read: Naira Strengthens Amid Rising Liquidity and Inflows
Analysts are closely monitoring the narrowing gap between official and parallel rates amid liquidity concerns affecting importers and manufacturers.
In the Nigerian Autonomous Foreign Exchange Market, the Naira opened at ₦1,346.40 per Dollar, slightly down from the previous day’s closing average.
Trading activity initially began at ₦1,340.00 before settling into the current range, reflecting persistent demand for the greenback.
Strong supply from institutional investors has helped prevent sharp swings, while the Central Bank of Nigeria maintains its policy corridor of ₦1,340–₦1,350 to preserve predictability for international transactions.
Meanwhile, activity in the parallel market remains robust, with the Dollar trading at a buying rate of ₦1,490 and a selling rate between ₦1,505 and ₦1,515 in major hubs such as Lagos and Abuja.
Stability in this market reflects a temporary equilibrium in retail demand for personal travel allowances and overseas tuition payments.
Despite recent resilience, the gap of over ₦150 between official and unofficial rates continues to challenge government efforts to unify exchange rates fully.
The Naira’s performance is being influenced by global oil price movements and domestic fiscal measures aimed at tightening liquidity.
Yesterday, the Naira appreciated slightly to ₦1,380 per Dollar in the parallel market from ₦1,385, even as it depreciated to ₦1,340 per Dollar in the official market.
According to Central Bank data, the indicative exchange rate rose to ₦1,340 per Dollar from ₦1,337, narrowing the margin between parallel and official rates to ₦40 per Dollar from ₦48 previously.
Also read: Dangote Predicts Naira Could Strengthen to N1,100
Analysts expect the official rate to hold steady barring major policy announcements or sudden shifts in foreign reserves, with the short-term trajectory hinging on end-of-week trading figures.
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Business
ChipMango: Building Nigeria’s Semiconductor Engineering Capabilities for the Global Tech Industry
Africa’s participation in the global technology industry should go beyond
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African engineers also have an opportunity to contribute to the technologies themselves, including the semiconductors that power smartphones, computers, vehicles and artificial intelligence.
Nigerian semiconductor technology company ChipMango is working to develop this capability by connecting engineering education with practical chip-design and verification projects.
Through its investment in African venture capital funds, the European Investment Bank (EIB), under the Boost Africa
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Boost Africa is a joint initiative of the EIB and African Development Bank, supported by the European Union.
Watch the video to discover ChipMango’s story and the opportunities it is helping create.
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