NIGERIA, Dec. 2 -- At the official window, the naira settled at 1,446.9 to the United States dollar on November 28, slightly weaker than the 1,438 recorded at the beginning of the month.

It also marked a drop from the 1,427.5 level seen on October 31, suggesting that the Central Bank of Nigeria's tightening cycle is yet to deliver lasting stability.

The News Chronicle gathered that the naira crossed the 1,450 threshold on only a handful of days in November, a stark contrast to the sustained pressure witnessed in October.

Between November 18 and November 24, the currency traded between 1,451 and 1,459.95 to the dollar, but quickly retreated afterward. Analysts view this shorter period of stress as an improvement compared to the eighteen...