Nigeria, April 7 -- The Central Bank of Nigeria (CBN) made its first major foreign exchange intervention of 2025 on Friday, injecting $197.71 million into the official market to curb pressure on the naira.

This move comes as Nigeria's currency faces renewed volatility triggered by geopolitical tensions, including fresh U.S. trade tariffs and weakening global oil prices.

The intervention follows a steep depreciation of the naira in just three days. According to data from the CBN, the naira fell by N35.77 at the official Nigerian Foreign Exchange Market (NFEM) between April 2 and April 4, 2025, dropping from N1,531.25 to N1,567.02 per U.S. dollar. The pressure was also evident in the parallel market, where the naira declined by N15, closi...