The naira is trading at about ₦1,329.44 to the US dollar at the Nigerian Foreign Exchange Market (NFEM), while the dollar is quoted at around ₦1,390 in the parallel market on Friday, September 11, 2026.
The latest available data from the Central Bank of Nigeria (CBN) put the official NFEM exchange rate at ₦1,329.44 per dollar, based on the most recently published market data.
In the parallel market, the dollar is being bought for about ₦1,380 and sold at approximately ₦1,390. However, rates can vary depending on the dealer, location and transaction volume.
At the parallel-market selling rate of ₦1,390 per dollar, the US currency is about ₦60.56 more expensive than the latest official NFEM rate, representing a premium of roughly 4.6 per cent.
For example, buying $100 in the parallel market would cost about ₦139,000, compared with approximately ₦132,944 at the latest official NFEM rate.
Recent trading has seen the naira remain stronger at the official window, although parallel-market dollar rates continue to trade above the NFEM rate. Market trackers reported parallel-market quotations of about ₦1,380 to ₦1,390 per dollar on Thursday.
The gap between the two markets means Nigerians seeking dollars for travel, school fees, imports, remittances and other legitimate transactions may face different exchange rates depending on whether they transact through a bank, a licensed Bureau de Change or the parallel market.
Exchange rates can fluctuate during the day in response to changes in dollar supply and demand, market activity and broader foreign-exchange developments. Parallel-market rates should therefore be treated as indicative, as the rate ultimately offered by individual dealers may differ.
