The Nigerian naira is trading at varying rates against the United States dollar across the official Nigerian Foreign Exchange Market (NFEM) and the parallel market on Tuesday, September 22, 2026.
According to the latest available official figures from the Central Bank of Nigeria (CBN), the naira closed at ₦1,329.80 per dollar at the NFEM on Monday, September 21. The rate represents an improvement from the previous session’s ₦1,331.20 per dollar.
The NFEM rate is the volume-weighted average exchange rate calculated from transactions conducted in Nigeria’s formal foreign exchange market and serves as the official exchange rate for the day.
Meanwhile, the dollar was trading at approximately ₦1,389 in the parallel market on Monday, with buying rates reported at around ₦1,381.
At the reported selling rate, anyone purchasing $1,000 through the parallel market would need about ₦1.389 million, while those selling $1,000 could receive approximately ₦1.381 million, depending on the dealer and location.
The difference between the NFEM rate of ₦1,329.80 and the parallel-market selling rate of ₦1,389 was approximately ₦59.20 per dollar.
The naira’s performance across both markets remains influenced by factors including dollar supply and demand, foreign exchange inflows, import demand and monetary policy developments.
For Nigerians buying or selling foreign currency, the actual rate may vary depending on the bank, Bureau de Change operator, transaction size, location and time of the transaction.
Parallel-market rates are especially prone to changes during the day, while the NFEM rate is based on transactions in the official market.
As of Tuesday, September 22, 2026, the latest confirmed figures put the dollar at ₦1,329.80 at the NFEM and around ₦1,389 in the parallel market.