The Nigerian naira is trading at different rates against the United States dollar in the official Nigerian Foreign Exchange Market (NFEM) and the parallel market as of Wednesday, September 16, 2026.
The latest official data from the Central Bank of Nigeria (CBN) showed that the NFEM rate stood at ₦1,329.15 per dollar for the September 15 trading session.
The CBN defines the NFEM rate as the volume-weighted average and the official exchange 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 the latest update from Aboki Forex.
The platform said its parallel-market rates are updated hourly based on rates obtained from dealers across major cities in Nigeria.
This means buyers seeking to purchase $1 in the parallel market may pay around ₦1,385, while those selling a dollar could receive approximately ₦1,380, depending on the dealer, location and size of the transaction.
The difference between the NFEM rate and the parallel-market selling rate is about ₦55.85 per dollar, while the gap between the official rate and the parallel-market buying rate is approximately ₦50.85.
The difference between the two markets remains a key indicator for individuals and businesses that depend on foreign exchange for imports, international payments, tuition, travel and other dollar-denominated transactions.
Exchange rates may change throughout the day as dollar supply and demand fluctuate. Aboki Forex also notes that parallel-market rates can vary depending on the location, dealer and transaction size.
For official transactions, the applicable exchange rate will depend on the authorised financial institution and the prevailing NFEM rate, while parallel-market transactions may have different buying and selling rates.
As of Wednesday, September 16, 2026, the latest figures put the dollar at ₦1,329.15 at the NFEM, while the parallel market is trading around ₦1,380 for buying and ₦1,385 for selling.