Nigeria’s naira reached its strongest level in over a month, driven by the central bank actively selling USD in the FX market. On Monday, the naira appreciated by 9.7%, trading at 1,339 per USD. This surge followed the central bank’s sale of one-year bills worth 1.143 tln naira at a 22.49% yield, which significantly increased USD liquidity. Despite this, USD sales dropped to USD 181 mln on Monday, even with continued central bank intervention. The central bank’s USD sales range from 1,260 to 1,320 per USD, with a USD 1.3 bln naira futures contract set to mature on Wednesday.