Naira Firms to N1,328.22/$ at Official Window, Black Market Holds at N1,390

The naira returned to appreciation against the dollar at the official foreign exchange market on Thursday, September 10, 2026, closing at N1,328.22 from N1,329.21 the previous day.

Data from the Central Bank of Nigeria showed the currency firmed up by N0.99 against the dollar on a day-to-day basis at the official window. It came after the naira recorded its first depreciation of the week on Wednesday.

Official and parallel markets diverge

The gain at the official market did not spread to the streets. At the black market, the naira stayed flat at N1,390 per dollar on Thursday, the same rate quoted on Wednesday.

That left a gap of about N62 between the official rate of N1,328.22 and the parallel market rate of N1,390, a spread that has persisted through the week.

The mixed sentiment means importers and travellers buying dollars in cash still pay a premium well above the rate published by the CBN.

Foreign reserves extend climb to $54.34bn

The country's foreign reserves stretched their surge to $54.34 billion on Wednesday, according to data from the apex bank.

The reserve build-up gives the CBN more room to defend the naira at the official window, where it has kept the rate within a narrow band in recent sessions.

The movement on Thursday was small, less than one naira, but it reversed the previous day's slide and kept the official rate below N1,330 for the second time this week.

What it means for businesses

A stronger official rate trims the cost of foreign exchange for importers who source dollars through the banks, though the benefit is limited while the parallel market rate remains near N1,390.

For now, the watch is on whether the reserve gains keep coming and whether the official rate holds its ground or gives back Thursday's modest gain.