The Nigerian naira is trading at different levels against the United States dollar across the official Nigerian Foreign Exchange Market (NFEM) and the parallel market on Wednesday, September 16, 2026.
The latest official data available from the Central Bank of Nigeria (CBN) put the NFEM exchange rate at ₦1,329.15 per dollar for the September 15 trading session. The CBN defines the NFEM rate as the volume-weighted average exchange rate and the official rate for the day.
In the parallel market, the dollar is currently quoted at about ₦1,380 for buying and ₦1,385 for selling, according to Aboki Forex’s latest market update. The platform says its parallel-market rates are updated hourly based on rates collected from dealers in major Nigerian cities.
At the current parallel-market rate, someone buying $1 could pay around ₦1,385, while someone selling $1 could receive approximately ₦1,380. Actual rates may vary depending on the dealer, location and transaction size.
The difference between the NFEM rate and the parallel-market selling rate is approximately ₦55.85 per dollar, while the gap between the official rate and the parallel-market buying rate is about ₦50.85.
The spread between the official and parallel markets remains relevant for businesses and individuals who require foreign exchange for imports, international payments, tuition, travel and other dollar-denominated transactions.
Exchange rates can change throughout the day as dollar supply and demand shift. Aboki Forex also notes that parallel-market rates may vary by location, dealer and transaction size.
For official transactions, the applicable rate will depend on the authorised financial institution and the prevailing NFEM rate. Parallel-market transactions, meanwhile, may involve separate buying and selling rates.
As of Wednesday, September 16, 2026, the latest available figures put the dollar at ₦1,329.15 at the NFEM, compared with approximately ₦1,380 buying and ₦1,385 selling in the parallel market.
