Will the Naira close stronger than ₦1,340 to the dollar on the official market today (May 22)?

Outcome: NO

How this forecast is settled

The official FX market is heavily influenced by CBN liquidity management, institutional dollar demand, and broader investor sentiment. For the Naira to strengthen beyond a key level like ₦1,340/$, the market usually needs consistent dollar supply support and limited late-session pressure from importers and corporates.

Resolution

NO, the Naira did not close stronger than ₦1,340.00/$1.The currency closed the week at ₦1,368.50 on the official NAFEM window for Friday, May 22, 2026. While this represents a slight appreciation from Thursday’s close (₦1,371.00), it failed to break the ambitious ₦1,340 resistance level, trading within a tight consolidated range throughout the session.

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