The Nigerian naira is trading at different rates against the US dollar across the official foreign exchange market and the parallel market as of Tuesday, September 1, 2026.
At the Nigerian Foreign Exchange Market (NFEM), the dollar was quoted at about ₦1,332.44 on the latest available official data for August 31. The Central Bank of Nigeria (CBN) describes the NFEM rate as a volume-weighted average and the official exchange rate for the day.
In the parallel market, recent checks put the dollar at roughly ₦1,390 to ₦1,405, depending on whether dollars are being bought or sold. NgnRates listed the black-market buying rate at ₦1,390 and the selling rate at ₦1,405, while other market trackers reported rates in the ₦1,400–₦1,415 range.
The difference between the official NFEM rate and the parallel-market rate is therefore roughly ₦60–₦80 per dollar.
Recent data also suggest that the naira has maintained relative strength in the official market. AbokiFX reported that the currency strengthened to ₦1,338.59/$ in the NFEM on Thursday, supported by improved dollar liquidity and stronger external buffers. Parallel-market rates, however, remained around ₦1,400/$.
NFEM trading activity also increased significantly in the latest reported session. Data cited by AbokiFX showed that total turnover rose 16.43 percent to $1.06 billion, up from $913.76 million, although the number of deals declined.
In the parallel market, AbokiFX’s latest accessible Lagos data does not provide a fresh quote for August 31. The platform displays zeros for the latest listed session and directs users to its subscription service for current rates.
For Nigerians buying or selling dollars, the actual exchange rate may vary depending on the bank, Bureau de Change operator, location, transaction size and prevailing market demand.
As of September 1, the indicative range is therefore around ₦1,332–₦1,338 per dollar in the official NFEM market and approximately ₦1,390–₦1,415 in the parallel market. Rates can change throughout the day as market conditions evolve.
