The the naira is sliding quickly as fuel importers scramble for dollars to cover growing orders. On July 23, 2026, the naira finished firmer in daily trade, yet specialists warn a reversal is coming. Across the wider region, African currencies are under renewed pressure to drop lower before year end.
Domestic banks and fuel traders are scrambling to secure greenbacks to settle multi-billion naira orders, pushing demand above normal. Just days before, the Dangote refinery increased its depot gate price again, pressures are building on transporters and family budgets.
Bitcoin-to-naira exchanges have moved faster since Apexpay sharpened processing, though traders flag this as fresh evidence of hard currency scarcity in Nigeria’s parallel market.