Nigeria’s foreign exchange market continues to experience movements as both the official and parallel segments respond to midweek liquidity pressures. As of Wednesday, February 18, 2026, the Naira recorded a slight change in value against the United States Dollar.
Official Market Performance (NAFEM)
Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) shows that the Naira is trading at an average rate of 1,345.45 per Dollar. Earlier in the day, the currency briefly weakened to 1,343.76 before rebounding to its present level.
Analysts link the relative calm in the official window to sustained interventions by the Central Bank and a stable inflow of export earnings. Nevertheless, businesses remain attentive to intraday fluctuations as they assess possible shifts later in the trading session.
Parallel Market (Black Market) Trends
Within the informal segment, commonly referred to as the black market, the Dollar continues to trade at a premium compared to the official window. Reports from Bureau De Change operators in key cities such as Lagos, Abuja, and Kano show the Dollar being purchased at 1,480 and sold between 1,495 and 1,510 per Dollar.
The disparity between the official and parallel markets, known as the “arbitrage gap,” persists, largely due to retail demand for school fees, travel allowances, and small-scale import transactions that are not readily met through the official window.
Economic Outlook
The prevailing exchange rate trend signals cautious optimism in the broader economy. Although the Naira has avoided the steep depreciations witnessed in earlier periods, inflationary pressures continue to shape pricing within the informal market.
Market observers note that if foreign exchange supply remains consistent through the Nigerian Foreign Exchange Market (NFEM), demand pressure in the parallel segment could soften before the close of the week. In the meantime, stakeholders are encouraged to rely on official sources for the most reliable rates.