Official CBN (NFEM) Rate: ₦1,450 / $1
Black-Market Rate: ₦1,460–₦1,474 / $1
Drivers: Limited FX inflows, high importer demand, retail FX pressure, and lingering confidence issues despite recent CBN interventions.
Top Tools: CBN NFEM Portal, FX Market Tracker, Lagos Parallel Market Monitor
The naira was trading around the mid-₦1,400s in the official market today, while Lagos parallel dealers were selling as high as ₦1,474 amid sustained demand from importers and households. Analysts say inflows remain thin, keeping the black-market premium intact despite policy easing and intermittent CBN interventions. For real-time updates, use the CBN NFEM Portal or FX Market Tracker for interbank quotes, and Lagos Parallel Market Monitor for black-market snapshots, updated every minute.
What’s the gap between CBN & black-market rates? Roughly ₦10 - ₦24 today, driven by higher demand outside formal channels.
Will the naira strengthen soon? Short-term movement depends on improved FX supply, oil receipts, remittances, and CBN liquidity support.
How do oil prices affect rates? Higher oil prices boost Nigeria’s dollar inflows, increasing the foreign exchange supply and generally easing pressure on the naira.
- Next article in the series 'Dollar to Naira Rate Series': Today’s Dollar to Naira Rate: Dollar → Naira Snapshot Rate for October 21, 2025
