News Update

THE Nigerian Naira began the new trading week on Monday, April 13, 2026, with minor fluctuations against the United States Dollar across the official and informal markets.

In the Nigerian Foreign Exchange Market (NFEM), the official trading window, the Naira opened at approximately N1,358.84 per Dollar. Despite some early-morning volatility that saw the rate briefly touch N1,362.08, the currency eventually stabilized near its opening mark.

This steady performance is largely credited to the Central Bank of Nigeria’s ongoing efforts to manage liquidity and maintain oversight of the banking system.

The parallel market, often referred to as the black market, saw higher rates as demand for the greenback continued among individuals and small businesses. In major commercial hubs such as Lagos, Kano, and Abuja, dealers reported the Dollar trading between N1,460 and N1,485.

Financial analysts remain focused on the significant gap between the official and informal rates, as further convergence is expected to depend on the evolution of fiscal policies and upcoming economic reports.

General market sentiment is currently cautious, influenced by global shifts such as the recent surge in oil prices and international tensions in the Strait of Hormuz.

Because the exchange rate directly impacts the cost of imported goods and logistics, its daily movement remains a vital factor for household and corporate budgeting in Nigeria.

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While the trading environment shows steady volume, financial experts anticipate the Naira will stay within its current range for the remainder of the session.