The Nigerian naira recorded gains against the United States dollar on Wednesday, appreciating in both the official and parallel foreign exchange markets.

At the Nigerian Foreign Exchange Market (NFEM), the naira strengthened to N1,369 per dollar, improving from N1,376/$ recorded on Tuesday, according to data released by the Central Bank of Nigeria (CBN).

The development represents a N7 appreciation in the official exchange rate.

In the parallel market, the local currency also appreciated, trading at N1,385 per dollar, compared to N1,390/$ on Tuesday.

Despite the gains in both markets, the exchange rate gap between the official and parallel markets widened slightly to N16 per dollar, up from N14 recorded the previous day.

Meanwhile, trading activity at the official foreign exchange market declined significantly, with interbank turnover dropping by 66.5 per cent to N90.3 million, down from N269.9 million recorded on Tuesday.

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The naira recorded mixed performance across foreign exchange markets, appreciating slightly in the parallel market while weakening at the official window, according to latest market data.

In the parallel market, the local currency strengthened to N1,387 per dollar, improving from N1,389 recorded last Friday, indicating a marginal gain for the naira in informal trading.

However, at the Nigerian Foreign Exchange Market, the naira depreciated to N1,349.7 per dollar, compared to N1,342.5 per dollar at the close of the previous week.

Figures released by the Central Bank of Nigeria showed that the N7.2 decline reflects sustained pressure within the official segment despite ongoing liquidity management efforts.

As a result of the contrasting movements, the gap between the parallel and official exchange rates narrowed to N37.3 per dollar from N47.5 recorded last week, suggesting gradual convergence between both markets.

Meanwhile, activity in the official market dropped significantly, with interbank turnover declining to N18.77 million, representing an 84.9 per cent fall from N124.3 million recorded in the previous session.

Analysts say the reduced trading volume may indicate cautious participation among market players, even as the broader outlook points to ongoing adjustments driven by policy direction and global currency trends.

The latest figures highlight the continued volatility in Nigeria’s foreign exchange market, as authorities intensify efforts to stabilise the naira and improve confidence in the system.

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The Nigerian currency, the naira, recorded a marginal appreciation on Tuesday as it traded at an average of N1,345.47 per dollar in the official market, signaling continued stability in the foreign exchange segment.

Data from the Nigerian Foreign Exchange Market showed that the currency strengthened slightly compared to the previous session, briefly reaching a high of N1,345.87 during early trading hours.

Market analysts attribute the improved performance to sustained liquidity and ongoing regulatory oversight by the Central Bank of Nigeria, which has continued to promote transparency and efficient price discovery in the official window.

The relative calm in the official market is also being supported by consistent interbank activity, with turnover levels reflecting stable participation among financial institutions.

In the parallel market, commonly referred to as the black market, the dollar traded between N1,390 and N1,405 across major commercial cities such as Lagos, Port Harcourt, and Kano.

Although a noticeable gap still exists between official and informal rates, traders report reduced volatility compared to previous weeks, offering a more predictable environment for small-scale importers and retail buyers.

Financial experts note that improved investor sentiment, driven by stronger external reserves and increased foreign portfolio inflows, has contributed to the naira’s recent stability.

They added that efforts to unify exchange rates remain a priority for monetary authorities, with current trends suggesting gradual convergence between both market segments.

For businesses and individuals, the latest exchange rates indicate a period of consolidation, as the market continues to adjust to both domestic monetary policies and global currency pressures, particularly the strength of the U.S. dollar.

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The Nigerian naira maintained relative stability at the official market but weakened in the parallel segment on Friday, highlighting ongoing pressure in the foreign exchange market.

At the Nigerian Foreign Exchange Market (NFEM), the naira opened trading at an official rate of N1,340.88 to the dollar, reflecting a more stable trend compared to earlier volatility recorded in the month.

Analysts attribute the relative calm in the official window to recent interventions by the Central Bank of Nigeria, including liquidity injections aimed at easing dollar demand and stabilising the market.

However, the situation in the parallel market painted a different picture, as traders in major cities like Lagos and Abuja quoted the dollar at around N1,250, indicating sustained demand for foreign exchange outside the official window.

The disparity between the official and parallel market rates, though narrower than in previous months, continues to reflect structural challenges within Nigeria’s foreign exchange system.

Market watchers say the gradual convergence of rates is a result of ongoing monetary reforms and improved transparency in price discovery at the NFEM.

Financial experts also link the naira’s recent stability to improved crude oil production and increased foreign exchange inflows, which have helped ease pressure on the local currency.

Despite this, concerns remain over external factors, including global inflation trends and interest rate movements in the United States, which could influence currency flows and impact the naira’s performance in the coming weeks.

For businesses and individuals, the parallel market remains a critical source of foreign exchange, particularly for those seeking immediate access to dollars.

Bureau De Change operators note that while liquidity conditions have improved slightly, demand for the dollar remains strong as economic activities pick up in the second quarter of the year.

Economic analysts warn that sustained stability in the foreign exchange market will depend on consistent policy implementation, improved dollar supply, and broader macroeconomic reforms.

The latest exchange rate movement underscores the delicate balance the Nigerian economy must maintain as it navigates both domestic pressures and global financial dynamics.

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The Nigerian currency strengthened across both official and parallel markets on Wednesday, posting notable gains against the United States dollar despite a widening spread between the two segments.

At the parallel market, the naira appreciated to N1,392 per dollar, improving from N1,396 recorded on Tuesday, reflecting sustained demand management and improved market sentiment.

Similarly, at the Nigerian Foreign Exchange Market (NFEM), the currency strengthened to N1,369 per dollar.

Data released by the Central Bank of Nigeria showed that the indicative exchange rate fell from N1,389 per dollar on Tuesday to N1,369, indicating a N20 appreciation for the local currency at the official window.

However, despite the gains recorded across both markets, the gap between the parallel and official exchange rates widened significantly to N23 per dollar, compared to N5 recorded the previous day.

Analysts say the widening spread may reflect underlying liquidity pressures and persistent segmentation in the foreign exchange market, even as recent policy measures continue to support relative stability in the naira.

The development underscores the complex dynamics shaping Nigeria’s foreign exchange market, where short-term currency gains often coexist with structural imbalances between official and informal trading segments.

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The naira recorded mixed performance across foreign exchange markets on Tuesday, appreciating in the parallel market while weakening at the official window, as the gap between both rates narrowed significantly.

At the parallel market, the local currency strengthened to N1,396 per dollar, improving from N1,400 per dollar recorded last Thursday, indicating a modest recovery driven by improved street-level dollar supply.

However, at the official Nigerian Foreign Exchange Market, the naira depreciated to N1,389 per dollar, reflecting continued pressure within the formal segment of the market.

Data released by the Central Bank of Nigeria (CBN) showed that the indicative exchange rate weakened from N1,382.75 per dollar last Thursday, representing a depreciation of N6.25 for the currency.

Despite the divergence in performance, the spread between the parallel and official exchange rates narrowed sharply to N5 per dollar, compared to N17.25 recorded in the previous week, suggesting improved alignment across the two markets.

Market data also indicated a slowdown in trading activity at the interbank window, with the number of deals dropping to 71, an 18 per cent decline from 87 transactions recorded in the previous trading session.

Analysts say the narrowing gap between both markets reflects ongoing efforts by monetary authorities to unify exchange rates and improve liquidity, although short-term volatility remains a key feature of the system.

They further note that sustained convergence will depend on consistent foreign exchange inflows, effective policy implementation, and continued confidence among investors and market participants.

The development underscores the delicate balancing act facing regulators as they attempt to stabilise the naira while deepening reforms in Nigeria’s foreign exchange market.

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The Nigerian naira continued its gradual decline against the United States dollar on Wednesday, 25 February 2026, closing at N1,359.5 per dollar in the official Nigerian Foreign Exchange Market (NFEM).

Data released by the Central Bank of Nigeria (CBN) revealed that the naira opened trading at N1,356.11 per dollar and ended the session slightly weaker, reflecting ongoing pressures on the currency amid domestic and global economic challenges.

This movement indicates a marginal depreciation compared with Tuesday’s NFEM rates, where the naira opened at N1,355.37 and closed at N1,359.00. Analysts describe this as a manageable shift, highlighting that timely interventions by the CBN could stabilize the naira in the coming weeks.

The parallel, or black-market, rate shows a sharper divergence from the official market. Bureau de Change operators in major commercial centres—including Lagos, Abuja, Port Harcourt, and Kano—reported buying and selling rates of N1,370 and N1,390 per dollar, respectively. The higher rates in the unofficial market reflect persistent dollar demand and supply constraints, which continue to exert pressure on local businesses and consumers.

Financial experts note that the widening gap between official and parallel market rates underscores structural challenges within Nigeria’s forex market. These include limited dollar inflows, reliance on imports for critical goods, and the volatility of global oil prices, which remain a major driver of Nigeria’s foreign exchange reserves.

“The naira’s stability is influenced by multiple factors—external reserves, trade balance, and market confidence. The recent slight depreciation in the official market is manageable, but the parallel market shows the real strain felt by businesses and households demanding dollars for transactions,” said a Lagos-based forex analyst who preferred anonymity.

Despite these pressures, there is cautious optimism that the CBN’s interventions—such as forex auctions and policy adjustments—could restore confidence in the official market. Historical trends suggest that these measures can curb excessive volatility when applied consistently and transparently.

Businesses and importers are feeling the impact of the currency gap, particularly those relying on foreign inputs. Small and medium-sized enterprises (SMEs) report that the disparity between official and parallel market rates has increased operational costs, forcing some to raise prices or delay imports.

“Every week, we monitor the naira’s movement closely. The gap between the official rate and what we pay in the parallel market affects our cost projections and pricing strategy,” said Adeola Johnson, a Lagos-based trader. “Until there is a closer alignment, businesses will continue to bear the burden of currency fluctuations.”

Economists point out that sustained naira depreciation in the parallel market could have broader economic consequences, including inflationary pressures, reduced purchasing power, and strain on foreign debt servicing. Conversely, a stable naira would encourage investment, support consumer confidence, and bolster Nigeria’s economic recovery trajectory.

The CBN has repeatedly emphasized the importance of a market-friendly approach to forex management. Analysts believe that consistent policy measures, transparent interventions, and promotion of local production to reduce import dependency could gradually ease the parallel market premium and enhance the naira’s resilience.

In summary, while the naira’s official-market depreciation to N1,359.5 per dollar is moderate, the parallel market reflects deeper pressures caused by high dollar demand and supply constraints. Stakeholders—including the CBN, businesses, and consumers—must remain vigilant, with a coordinated approach to stabilize the currency and protect economic growth.

Market Summary:

• NFEM (Official) — N1,359.5 /$
• Parallel Market — N1,370 – N1,390

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The Nigerian naira appreciated to N1,450 per US dollar in the parallel market on Wednesday, up from N1,455 per dollar recorded on Tuesday. This rise marks the third consecutive day of gains for the currency in the official foreign exchange market.

Data from the Central Bank of Nigeria (CBN) showed that the naira strengthened to N1,359/$ at the official Nigerian Foreign Exchange Market (NFEM), rising from N1,367/$ previously. The N8 appreciation highlights a positive trend for the domestic currency.

The widening gap between the parallel and official market rates has increased to N91 per dollar, up from N88 per dollar, reflecting both market dynamics and investor sentiment. Analysts attribute the gains to improved forex inflows, growing investor confidence, and the CBN’s interventions in the currency market.

Economists say that sustained naira appreciation could reduce inflationary pressures and support economic stability, but caution that market volatility remains a factor. The CBN continues to monitor both official and parallel market trends to ensure currency stability while promoting growth in Nigeria’s economy.

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The naira appreciated against the United States dollar on Tuesday, strengthening in both the parallel market and the official Nigerian Foreign Exchange Market (NFEM), according to data from the Central Bank of Nigeria (CBN).

In the parallel market, the naira rose to N1,455 per dollar from N1,465 recorded on Monday, reflecting a N10 gain within 24 hours.

Similarly, the local currency strengthened in the NFEM, where it appreciated to N1,367 per dollar. CBN data showed that the indicative exchange rate improved from N1,384.5 per dollar on Monday to N1,367 per dollar, representing a N17.5 appreciation.

Despite the gains recorded across both markets, the margin between the parallel market rate and the official exchange rate widened. The gap increased to N88 per dollar on Tuesday from N80.5 per dollar the previous day, highlighting continued disparities in foreign exchange pricing.

Market analysts attribute the naira’s recent appreciation to sustained foreign exchange reforms, improved liquidity at the official window, and ongoing interventions by monetary authorities aimed at stabilising the currency.

However, they caution that volatility may persist in the short term due to pressure from import demand, speculative activities, and broader macroeconomic challenges.

The Central Bank of Nigeria has maintained that its ongoing reforms in the foreign exchange market are designed to promote transparency, enhance price discovery, and restore confidence among investors and market participants.

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The naira closed the week slightly weaker at the official foreign exchange market, settling at N1,421.9 per dollar, despite a softer U.S. dollar in global markets.

Data from the Central Bank of Nigeria (CBN) shows that domestic dollar supply constraints continued to outweigh supportive external conditions, keeping pressure on the local currency throughout the trading week.

Although the naira avoided sharp volatility, it failed to sustain early-week gains, reflecting persistent distortions in Nigeria’s foreign exchange market.

At the official window, the naira closed at N1,421.9/$ on Friday, compared to N1,421.5/$ on Thursday and N1,423/$ on Wednesday. Earlier in the week, the currency traded at N1,420/$ on Tuesday and N1,420.5/$ on Monday, after opening at N1,425/$.

Compared with the previous week’s closing rate of N1,417.95/$, the naira ended the week marginally weaker.

In the parallel market, the naira depreciated slightly to N1,491/$ on Friday, from N1,490/$ the previous day. Weekly trading ranged between N1,483 and N1,491 per dollar, widening the gap between the official and street markets to about N70/$.

A Lagos-based currency trading expert, Dayo Omole, attributed the divergence to ongoing supply challenges.

“Nigeria has restrictions on foreign currency access and a limited dollar supply, so the naira may not strengthen significantly in the parallel market,” Omole said.

He noted that movements in the global dollar do not always translate into gains for the naira, as domestic supply-demand dynamics often dominate price action.

“When the dollar weakens globally but Nigeria continues to struggle with FX supply, the gap between official and parallel market rates can widen further,” he added.

Nigeria’s foreign exchange market has remained under strain following years of FX controls, multiple exchange rate regimes, and weak dollar inflows.

Despite recent reforms by the CBN aimed at improving transparency and market efficiency, structural challenges continue to affect liquidity and price discovery.

FX supply has remained constrained due to weaker oil export receipts, subdued foreign portfolio investment, and inconsistent diaspora remittances. The persistent gap between official and parallel market rates reflects unmet demand and lingering confidence issues among market participants.

Meanwhile, Nigeria’s external reserves stood at $45.9 billion last week, according to the CBN, providing some buffer for currency management.

The International Monetary Fund (IMF) recently upgraded Nigeria’s 2026 economic growth forecast to 4.4 per cent, citing optimism around ongoing economic reforms.

However, analysts note that geopolitical risks and policy uncertainty in the United States continue to add volatility to global FX markets, indirectly affecting frontier currencies such as the naira.

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