The Nigerian naira is trading at ₦1,329.15 to the US dollar at the official Nigerian Foreign Exchange Market (NFEM), while the dollar is quoted at about ₦1,380 to buy and ₦1,385 to sell in the parallel market on Wednesday, September 16, 2026.
The latest official figure from the Central Bank of Nigeria (CBN) relates to Tuesday’s NFEM trading session. The rate is calculated as a volume-weighted average of transactions conducted in the official foreign exchange market.
In the parallel market, available rates remain different from the official figure, with Aboki Forex reporting a buying rate of approximately ₦1,380/$1 and a selling rate of about ₦1,385/$1.
At the reported parallel-market selling rate of ₦1,385/$1, a person buying $100 would need approximately ₦138,500, while $1,000 would cost about ₦1.385 million, excluding any additional charges or dealer-specific differences.
Anyone selling $100 at the reported parallel-market buying rate of ₦1,380 would receive approximately ₦138,000.
The parallel-market selling rate is currently ₦55.85 higher than the NFEM rate, while the buying rate is ₦50.85 abovethe official figure.
The difference between the two markets remains relevant to Nigerians and businesses requiring foreign currency for international payments, imports, overseas education, travel and other foreign-exchange obligations.
However, the parallel market does not operate at a single fixed rate. Dollar prices can change during the day depending on demand, available dollar supply, location, dealer and transaction size.
Customers carrying out foreign-exchange transactions through banks and other authorised financial institutions will be subject to the applicable rate offered by the institution and prevailing official market conditions.
Dollar to Naira rates today, September 16, 2026
- NFEM: ₦1,329.15/$1
- Parallel-market buying: ₦1,380/$1
- Parallel-market selling: ₦1,385/$1
- NFEM-to-parallel selling gap: ₦55.85/$1
Exchange rates can change throughout the day as market conditions and foreign-exchange liquidity shift.
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