The naira continued to strengthen against the US dollar on Thursday, September 3, 2026, with the Nigerian currency trading around N1,329 per dollar in the official market while the parallel market remained significantly higher.
The latest available Nigerian Foreign Exchange Market (NFEM) data put the official exchange rate at about N1,329.12 to $1 as of September 3. A live USD/NGN reference rate also showed the dollar at N1,329.12. The Central Bank of Nigeria (CBN) says the NFEM rate is derived from the volume-weighted average of transactions and serves as the official exchange rate for the day.
The official-market movement follows Wednesday’s reported close of N1,326.69 per dollar, a two-year high for the naira. The appreciation has been supported by improved dollar liquidity, stronger external reserves and increased formal remittance inflows.
In the parallel market, however, the dollar remained more expensive. Aboki Forex quoted the black-market rate at N1,395 per dollar on September 3. Another market tracker, TalentBase, reported a buying rate of around N1,400 and a selling rate of N1,410 in major Nigerian locations.
This puts the gap between the official NFEM rate and the parallel-market selling rate at roughly N81 per dollar, although the exact premium varies depending on the location and whether dollars are being bought or sold.
