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  • Naira Strengthens Slightly to ₦1,345/$ as Stability Holds Across Markets

    The Nigerian Naira opened trading on Tuesday at an average of ₦1,345.47 per dollar in the official market, extending its steady run as efforts to align exchange rates continue.

    What happened

    At the Nigerian Foreign Exchange Market (NFEM), the currency recorded a slight appreciation during early trading.

    It briefly touched ₦1,345.87 per dollar before stabilising, reflecting consistent interbank activity and steady demand.

    Analysts say the performance is tied to ongoing reforms by the Central Bank aimed at improving liquidity and ensuring transparent pricing.

    Parallel market trend

    In the parallel market, the Naira maintained relative stability across major cities including Lagos, Port Harcourt and Kano.

    The dollar traded between ₦1,390 and ₦1,405, with the gap between both markets remaining largely unchanged.

    Traders noted that volatility has reduced compared to previous periods, offering more predictability for users of the informal market.

    What is driving stability

    Market observers attribute the trend to improved investor confidence, stronger external reserves and increased dollar inflows.

    These factors have helped ease pressure on the local currency while supporting gradual convergence between official and parallel rates.

    The bigger picture

    For businesses and households, the current rates point to a period of relative calm.

    While global dollar strength still poses a risk, the Nigerian market continues to meet demand without major disruptions, supporting smoother transactions in the near term.

     

  • Naira Opens Week at ₦1,347/$ as Dollar Demand Keeps Pressure on FX Market

    The Nigerian Naira began trading on Monday, April 20, 2026, at about ₦1,347.33 per US Dollar at the official window, showing slight depreciation as demand for foreign exchange remained steady across markets.

    Market movement

    At the Nigerian Foreign Exchange Market (NFEM), the Naira averaged ₦1,347.33/$ in early trading, reflecting a mild drop compared to last week’s close.

    Traders said demand for the Dollar, especially for imports and international payments, continued to put pressure on the local currency despite relatively stable liquidity conditions.

    Parallel market rates

    In the parallel market, the Naira traded higher than the official rate, maintaining the usual gap between both segments.

    Across major cities like Lagos, Abuja, and Kano, Bureau De Change operators quoted buying rates around ₦1,395 and selling rates near ₦1,405 per Dollar.

    The relatively stable spread suggests that retail Dollar supply remains sufficient, limiting sharp fluctuations.

    What is driving the trend

    Analysts linked the Naira’s performance to persistent foreign exchange demand and ongoing adjustments within Nigeria’s FX framework.

    They also noted that stable crude oil prices have helped support external reserves, providing some cushion against major volatility.

    However, underlying demand for foreign currency continues to shape short-term movements in the market.

    Outlook

    For businesses and investors, the current trend points to gradual adjustments rather than extreme swings.

    Market watchers say close monitoring of FX movements remains key, as even small shifts could impact pricing, trade, and investment decisions.

     

  • Naira Holds Ground At ₦1,340/$ As CBN Interventions Boost Stability

    The Nigerian naira maintained a relatively stable position against the United States dollar on Friday, April 17, 2026, opening at ₦1,340.88/$ at the official Nigerian Foreign Exchange Market (NFEM).

    Calmer trend emerges

    The latest rate reflects a more stable phase for the local currency after weeks of volatility earlier in the month driven by rising import demand.

    Market watchers say the naira is now experiencing milder fluctuations across both the official and parallel markets.

    CBN support drives stability

    Recent data points to sustained interventions by the Central Bank of Nigeria as a key factor behind the improved stability.

    Liquidity injections into the official window have helped balance supply and demand, reducing sharp swings in exchange rates.

    Analysts also note that the evolving structure of the NFEM is improving transparency and gradually restoring investor confidence.

    Parallel market still higher

    Despite the gains in the official market, the parallel market continues to trade at slightly higher rates.

    Currency dealers in major cities like Lagos and Abuja say the dollar is still sold at a premium, although the gap between both markets has narrowed compared to previous months.

    External risks remain

    Experts warn that global economic conditions could still impact the naira’s performance in the coming weeks.

    Factors such as global inflation and possible interest rate changes in the United States remain key risks to watch.

    What it means for Nigerians

    For individuals and businesses, demand for foreign exchange remains strong as economic activities pick up.

    Traders say access to forex has improved slightly, but sustained stability will depend on consistent policies and favourable global conditions.