Market News
Naira gains against Dollar at official, down in parallel market - NIGERIAN TRIBUNE
BY Mutalib Jibril
The Nigerian naira recorded a steady performance against the United States (US) dollar on Tuesday, 10 February 2026, according to official foreign-exchange figures from the Central Bank of Nigeria (CBN).
The data reflect Tuesday’s trading activity across both the official foreign-exchange market and the parallel market.
Official Market Rate (CBN/NFEM)
Figures published via the CBN’s official foreign-exchange platform indicate that the naira traded at an average of N1,351 per dollar and a closing rate of N1,349.5/$, at the Nigerian Foreign Exchange Market (NFEM), as against an average rate of N1,354/$ and a closing rate of N1,355/$ on Monday.
This rate serves as the benchmark for authorised foreign-exchange transactions within Nigeria’s formal banking system.
Parallel (Black) Market
In the parallel market, the dollar traded at slightly higher levels. Bureau-de-Change (BDC) operators in major commercial centres such as Lagos, Abuja, and Port Harcourt quoted roughly around N1,455 per dollar compared to N1,440 on Monday.
Rates in this segment typically vary by location, transaction size, and demand conditions.
Market Summary
Official NFEM rate: ~N1,349 per $1
Parallel/black market rate: ~N1,455 per $1
