The Nigerian Naira maintained a stable position against the United States Dollar in both the official and parallel markets on Thursday morning, April 30, 2026. Early trading data showed the local currency sustaining recent gains as liquidity conditions remained a key focus for traders and investors.
Official market performance
In the Nigerian Foreign Exchange Market (NFEM), the Naira opened slightly stronger. The spot rate stood at N1,375.07 per dollar, reflecting a marginal improvement from the previous trading session’s closing figures.
Market activity pointed to relative stability, with the Central Bank of Nigeria (CBN) continuing its interventions to support smoother price discovery. Despite the small movements, demand in the official market remained steady, driven largely by corporate needs for imports and trade-related payments.
Parallel market trends
In the parallel market, commonly referred to as the black market, rates also remained stable. In major cities such as Lagos, Abuja, and Kano, Bureau De Change operators quoted the dollar between N1,380 and N1,390 for buyers.
The narrow gap between official and parallel market rates has been linked to improved transparency in the financial system, alongside increased dollar inflows from remittances and foreign portfolio investments.
Economic outlook
The current exchange rate stability reflects cautious optimism in the economy. Market participants continue to watch global oil prices and domestic inflation trends, both of which significantly influence the Naira’s outlook.
Traders expect rates to remain within the current range through the day, unless there are major policy changes or shifts in foreign exchange supply. The alignment between both markets continues to suggest gradual movement towards a more unified exchange rate system.