Yes — rates shifted, and this time in the right direction. After Wednesday’s softening to the ₦1,356–₦1,362 range, the naira has partially recovered Thursday. Trading Economics confirms USD/NGN at ₦1,347.51 on April 23 — a modest firming of roughly ₦8 from Tuesday’s ₦1,356.19 CBN reading. The parallel market has also eased back slightly, with the official–parallel spread narrowing from Wednesday’s ~₦65 premium to approximately ₦49 today.

The recovery reflects two dynamics playing out simultaneously. First, the ceasefire extension has removed the immediate tail risk of resumed bombing campaigns — the worst-case scenario that BDC operators had priced into Wednesday’s parallel rates. Second, there are tentative positive diplomatic signals: Iran indicated it received signals that the US may be open to ending its naval blockade, which is the first sign of a potential quid-pro-quo emerging. Neither side wants to be seen as the one who collapsed the truce, and that symmetry is providing a floor under the naira.

The caution factor: Brent crude closed Wednesday at $101.91 after Iran’s Revolutionary Guard seized two container ships attempting to cross Hormuz without authorisation — a reminder that the physical situation in the strait remains fragile even while diplomats talk. Oil in the $98–$102 band is the new holding range until a genuine breakthrough or breakdown emerges. The 3–5 day clock Trump set on Wednesday gives Iran until roughly Saturday–Monday to submit a unified proposal, making the weekend the next defining moment.