Market News

The Nigerian naira again appreciated against the United States (US) dollar, trading at the Nigerian Foreign Exchange Market (NFEM) rate of N1,371.5063 per dollar at the Central Bank of Nigeria (CBN) official foreign exchange window on Thursday, 12th March 2026.

According to data shared on the CBN’s official platform, the naira traded at the NFEM rate of N1,371.5063 per dollar and closed at N1,370 per dollar. 

Recall that the Naira, on Wednesday, 11th March, 2026, closed the market at the NFEM rate of N1,376.1925 per dollar. Comparing Wednesday’s rate to the N1,371.5063 at which the Nigerian currency traded per dollar on Thursday shows the naira appreciated by at least N4. 

At the parallel market, the naira-to-dollar exchange rate has also been rising for a while. For some days now, the naira-to-dollar exchange rate has appreciated by N10 and N20 for the buying and selling rates, respectively.

According to Bureau De Change operators across Lagos, Kano, Port Harcourt, and Abuja, the Naira-to-dollar exchange rate at the black market on Thursday, 12th March, 2026, was N1,420 per dollar for the buying rate and N1,450 per dollar for the selling rate.

Market Summary 

NFEM rate — N1,371.5063/$

Black market (Buying and selling rates) — N1,420— N1,450