The naira strengthened slightly against the US dollar on Nigeria’s official foreign exchange market on Tuesday, 8 September 2026, while the parallel-market exchange rate remained unchanged at ₦1,390/$1.
Data from the Central Bank of Nigeria (CBN) and Bureau de Change (BDC) operators showed the naira gaining ₦2.50 against the dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM), with the official rate moving from ₦1,322.50/$1 on Friday, 4 September, to ₦1,320/$1.
The move represents a 0.19% appreciation in the naira on the official market.
The improvement was not reflected in the parallel market, where the dollar continued to trade at ₦1,390 on Tuesday, the same rate recorded on Monday.
The gap between the official and parallel-market rates therefore stood at ₦70 per dollar.
The naira also recorded mixed movements against other major currencies in the parallel market.
The pound fell to ₦1,855 on Tuesday from ₦1,860 on Monday, representing a ₦5 or 0.27% strengthening of the naira.
The Canadian dollar also declined to ₦995 from ₦1,005, giving the naira a 1.01% gain against the currency.
The euro, however, moved in the opposite direction. It rose to ₦1,590 from ₦1,580, meaning the naira weakened by ₦10, or 0.63%, against the European currency.
External Reserves Edge Higher
Nigeria’s external reserves also recorded a marginal increase, providing a small improvement in the country’s foreign-exchange buffer.
CBN data showed reserves rising to $54.127 billion on 4 September from $54.084 billion on 3 September. That represents an increase of approximately $43 million, or 0.08%.
