Naira Exchange Rate Improves Slightly Against Dollar

On September 4, 2026, the Nigerian currency, Naira (₦), experienced a slight appreciation against the United States dollar in the official foreign exchange market. Data from the Central Bank of Nigeria (CBN) indicated that the Naira was sold at ₦1,315.6717 per dollar on Thursday, a change from the previous day's rate of ₦1,326.6862 per dollar.

In contrast, the parallel market, often referred to as the black market, closed at ₦1,405 to the dollar on the same day. The rates offered by commercial banks, Bureau de Change (BDC) operators, and other foreign exchange dealers may vary from these reference rates due to transaction margins and the prevailing demand and supply conditions.

Market participants are expected to keep a close watch on foreign exchange inflows, the demand for dollars, and the policies of the CBN to assess whether the Naira can maintain its gains throughout the month.