Market News
Naira slumps again, closes at N1,359/$ in official market - NIGERIAN TRIBUNE
The Nigerian naira continued its streak of depreciation against the United States (US) dollar on Tuesday, 24th February 2026, closing at N1,359 per dollar at the Nigerian Foreign Exchange Market (NFEM).
According to the Central Bank of Nigeria (CBN) official data shared on its website, the naira opened trading at the NFEM rate of N1,355.3745 per dollar and closed at N1,359 per dollar in the official market.
On Monday, 23rd February,2026, the naira traded at NFEM rate of N1,349.2352 and closed at a rate of N1353.5, thereby showing the Naira has been drastically falling against the United States (US) dollar.
This depreciation calls for new interventions by the Central Bank of Nigeria ( CBN) to devise new modalities and strategies to further curtail the depreciation of the Naira.
At the parallel market , the rate of naira to dollar has been the same since the beginning of this week.
According to the Bureau De Change operators in major commercial centres like Abuja, Lagos, Port Harcourt, and Kano, the Naira to dollar exchange rate at the black market on Tuesday, 24th February, 2026 was N1,350 for the buying rate and N 1,370 for the selling rate.
Market Summary
NFEM (Official) — N1,359 /$
Black market — N1,350- N1,370
