Naira Firms, CBN Holds Rates Amid Global Tension as Security Concerns Mount

The naira closed stronger at N1,320 per dollar on Monday, but the good news comes with a caveat: foreign exchange turnover in the Nigerian Foreign Exchange Market (NFEM) crashed 78.4% to N107.07 million, its lowest level since April. That's a five-month low in trading activity, signaling a cautious market even as the currency inches forward.

Why it matters: The naira's 0.19% appreciation might look healthy, but the dramatic drop in market...