The Central Bank of Nigeria (CBN) said a decline in crude oil prices in response to the tariffs, had presented "new dynamics for oil-exporting countries such as Nigeria."

The CBN reacted by intervening in the foreign exchange market, selling US$197.71 million to banks.

"This measured step aligns with the Bank's broader objective of fostering a stable, transparent, and efficient foreign exchange market," the CBN said in a statement.

--Reuters--