W’Bank: Naira proves more resilient than several African currencies

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The naira held up better than most African currencies in the second quarter of 2026, according to a fresh World Bank assessment. Nigeria's currency shed less value over the quarter than the Ghanaian cedi and a number of its other regional peers. That counts as progress for a unit that has been through repeated devaluations and wild swings on the parallel market in recent years. The report's yardstick is straightforward: how small the depreciation was compared with its neighbors. Oil earnings and tighter handling of the foreign-exchange market both feed into how the naira performs from one quarter to the next. Ghana's cedi, for its part, gave up noticeably more ground over the same period. The bank tracks these moves closely because currency weakness feeds straight into inflation and debt servicing costs. For Nigerian authorities, the finding is a rare bright spot in the bank's regional tables.

The naira was among the more resilient African currencies in Q2 2026, with a smaller depreciation than the cedi and others, a new World Bank report says. Read More: https://punchng.com/wbank-naira-proves-more-resilient-than-several-african-currencies/

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