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.
Business
ISAT Group Rebrands, Partners Afro Mobile to Launch High-Speed Broadband Services in Nigeria by Q3 2026
New identity signals bold expansion as landmark investment accelerates affordable, high-speed connectivity for millions of Nigerians.
Nigeria’s digital economy is set for a major boost as ISAT Group unveiled a new corporate identity and announced a strategic alliance with Afro Mobile, ahead of its Q3 2026 commercial launch.
The partnership is underpinned by Afro Mobile’s acquisition of a 40% equity stake in ISAT Group and a US$3 billion financing package structured by Equiline Finance, positioning the alliance among the largest indigenous broadband investment initiatives in Nigeria’s telecommunications sector.
The rebranding marks ISAT Group’s evolution into a next-generation digital connectivity company focused on broadband, satellite communications and enterprise solutions. Together, the partners will expand affordable, high-speed internet access to homes, businesses, government institutions and underserved communities nationwide.
ISAT Group Chief Executive Officer, Dr. Adeyanju Binuyo, described the development as a transformational milestone.
“Our vision extends beyond connectivity. We are building the digital infrastructure that will power businesses, connect communities, stimulate innovation and accelerate Nigeria’s digital economy. This partnership demonstrates our commitment to making world-class broadband accessible to every Nigerian.”
Group Chairman, Mr. Ganiyou AFOLABI Moustapha, said the alliance reflects ISAT Group’s long-term confidence in Nigeria’s future.
“This investment is a strong vote of confidence in Nigeria’s digital economy. Together with Afro Mobile, we are building a resilient indigenous broadband platform that will create jobs, drive innovation and support inclusive national development.”
With operations commencing in Q3 2026, ISAT Group and Afro Mobile are poised to emerge as a leading indigenous broadband provider, delivering next-generation connectivity that will help bridge Nigeria’s digital divide and power the country’s next phase of economic growth.
Business
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