Dollar To Naira Today: Naira Trades At ₦1,329.15 Officially, ₦1,385 In Parallel Market

The US dollar is currently trading at ₦1,329.15 on the official Nigerian Foreign Exchange Market (NFEM), while parallel-market dealers are quoting approximately ₦1,380 for buying and ₦1,385 for selling the dollar as of Wednesday, September 16, 2026.

According to Bush Radio Academy, the latest official exchange-rate figure published by the Central Bank of Nigeria (CBN) relates to the NFEM trading session of Tuesday, September 15. The rate represents the volume-weighted average recorded during that trading session.

In the parallel market, dollar transactions are taking place at different rates depending on the dealer, location, available supply and transaction size.

Available market data puts the parallel-market buying rate at approximately ₦1,380 per dollar, while the selling rate stands at about ₦1,385.

At the quoted selling rate, anyone purchasing $100 would need approximately ₦138,500, while $1,000 would cost about ₦1.385 million, excluding any additional charges or differences that individual dealers may apply.

Conversely, a person selling $100 at the quoted parallel-market buying rate could receive approximately ₦138,000.

The parallel-market selling rate is ₦55.85 higher than the NFEM rate, while the buying rate is ₦50.85 above the official figure.

The difference between the official and parallel markets remains relevant to individuals and businesses requiring foreign currency for international travel, overseas education, imports, international payments and other foreign-exchange obligations.

However, the parallel market does not operate with a single fixed rate. Prices can fluctuate during the day and may differ from one dealer or location to another, depending on market conditions and the volume of dollars available.

For transactions conducted through banks and other authorised financial institutions, customers are subject to the applicable exchange rate provided by the institution and prevailing official market conditions.

As of Wednesday, September 16, 2026, the quoted rates are ₦1,329.15 to the dollar on the NFEM, ₦1,380 for the parallel-market buying rate and ₦1,385 for the parallel-market selling rate, giving a ₦55.85 difference between the official rate and the parallel-market selling price.