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Nigerian Naira Strengthens Against Dollar

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Nigerian Naira

Nigerian Naira Strengthens with modest gains vs US dollar as CBN liquidity support and stable oil prices underpin market stability

The Nigerian naira opened the trading week on a firmer note, recording a modest appreciation against the United States dollar on Monday, 23 February 2026, supported by Central Bank of Nigeria interventions and improved foreign exchange liquidity.

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Also read: Nigerian Naira Gains Against US Dollar Amid CBN Reforms

At the official window of the Nigerian Foreign Exchange Market, the naira opened at ₦1,339.18 per dollar, up from Sunday’s closing rate of ₦1,343.36.

Intraday trading saw the currency touch ₦1,342.98 before firming again, signalling a controlled yet positive price discovery process.

The official mean rate for February currently stands at ₦1,346.32, highlighting Monday’s early strength relative to the monthly average.

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In the parallel market, the dollar traded at a slight premium, with rates between ₦1,355 and ₦1,362.

Analysts noted that the gap between official and informal windows remains narrow, reflecting improved liquidity and reduced speculative pressures that previously drove higher premiums.

Several factors are supporting the naira’s stability.

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Steady foreign exchange supply from the CBN to Bureau De Change operators and authorised dealers has absorbed excess retail demand.

Nigeria’s elevated interest rate environment, with the Monetary Policy Rate at 27.00%, continues to attract carry-trade inflows. Additionally, inflation eased to 15.10% in January 2026, contributing to stronger currency sentiment.

Market analysts project the naira is likely to trade between ₦1,335 and ₦1,350 at the official window through the week, assuming stable global oil prices and steady domestic crude production.

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Also read: Nigerian Naira Falls After Week of Gains

While the outlook is cautiously positive, experts caution that external shocks or shifts in oil market dynamics could quickly affect near-term currency trends.

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Rest of World to Shut Down as Search for New Home Continues

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Rest of World

Rest of World shutdown plans point to January 2027 as leaders seek a new institutional home for the nonprofit technology newsroom

Rest of World, the international nonprofit digital publication known for reporting on technology’s impact beyond Western markets, is preparing to end operations as an independent organisation in January 2027 while its leadership searches for a new institutional home.

Also read: Flamingos Target Quarter-Finals in Mexico Clash

Deputy Editor Rina Chandran confirmed the development in a LinkedIn post on Monday, October 26, 2026, saying the newsroom would continue publishing until the end of January as efforts to secure a future for the publication continued.

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“Yes, it’s true: Rest of World is shutting down. After six years of award-winning reporting, our leadership is searching for a new home for the publication that was launched to cover innovation outside the West,” Chandran wrote.

She recalled joining the publication as its Southeast Asia editor in Bangkok before moving to San Francisco, where she became a deputy editor covering how technology developed in Silicon Valley affects people in other parts of the world.

Chandran described working with the publication’s reporters, editors, freelancers and columnists as a privilege, expressing appreciation for the people who contributed to its journalism.

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She also reassured contributors that work already commissioned would still be published and that existing journalism would be preserved and remain accessible.

“If you are a freelancer or columnist who has already been commissioned, you’re good! Your work will be preserved and continue to be accessible,” she wrote, thanking readers, donors and supporters.

The announcement follows a report by Semafor on Sunday that Rest of World founder and principal financial backer Sophie Schmidt had held discussions with several large institutions about potentially taking over the newsroom.

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According to Semafor, two people familiar with the plans said a late-January wind-down date had been set to give employees time to receive exit packages and seek new jobs if efforts to find a new institutional home failed.

Schmidt reportedly told donors that the publication would stop operating as a standalone entity at the end of January.

The proposed closure comes amid a reported decline in traffic from web searches and social media referrals over the preceding 18 months.

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The publication had attempted to retain readers by placing greater emphasis on Western audiences and requiring visitors to register before accessing articles.

Founded in 2020, Rest of World sought to broaden technology journalism beyond the traditional focus on Silicon Valley and other Western technology centres.

Its reporting examined how digital products, platforms and infrastructure shape everyday life, work and economies in emerging markets and other underreported regions.

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Schmidt pledged $60m to establish the project as a nonprofit newsroom.

Over the years, its coverage has explored technology-driven changes in labour markets, digital infrastructure, artificial intelligence and the influence of major technology companies.

The publication’s 2025 annual report said it reached more than 753,000 readers monthly across platforms and channels, with reporting spanning nearly 40 countries during the year.

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Those figures illustrate the scale of its international reporting, even as the organisation faces difficulties sustaining its current operating model.

The planned end of independent operations does not necessarily mean the publication’s journalism will disappear.

Its leadership is seeking an institution that could provide a future for the newsroom, while Chandran has said its existing work will remain accessible.

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Also read: Flamingos Target Quarter-Finals in Mexico Clash

Whether a suitable organisation will take over the publication, and what form Rest of World might take under new ownership or institutional support, remains unresolved.

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