The naira is trading at about ₦1,329.44 to the US dollar at the Nigerian Foreign Exchange Market, NFEM, while the dollar is selling for around ₦1,390 in the parallel market on Friday, September 11, 2026.
The latest available data from the Central Bank of Nigeria, CBN, puts the official NFEM exchange rate at ₦1,329.44 per dollar.
Meanwhile, in the parallel market, the dollar is reportedly being bought at approximately ₦1,380 and sold at about ₦1,390, although the actual rate may differ based on the dealer, location and volume of the transaction.
At the parallel-market selling rate of ₦1,390 to the dollar, the US currency is about ₦60.56 higher than the latest official NFEM rate, representing a premium of roughly 4.6 per cent.
At these rates, purchasing $100 would cost about ₦139,000 in the parallel market, compared with approximately ₦132,944 at the official NFEM rate.
Recent market activity indicates that the naira has remained relatively stronger at the official foreign exchange window, while parallel-market dollar rates continue to stay above the NFEM rate. Market trackers quoted the dollar at between ₦1,380 and ₦1,390 in the parallel market on Thursday.
The difference in rates means Nigerians requiring foreign currency for purposes such as international travel, school fees, imports and remittances may pay different amounts depending on whether they obtain dollars through banks, licensed Bureau de Change operators or the parallel market.
Exchange rates can fluctuate throughout the day, depending on foreign-currency supply and demand, market activity and other developments in the foreign exchange market. As a result, parallel-market figures should be regarded as indicative, as individual dealers may offer different rates.
Source: Vanguard
