The Nigerian naira is trading at different levels against the United States dollar across the official Nigerian Foreign Exchange Market (NFEM) and the parallel market on Wednesday, September 16, 2026
The latest available official data from the Central Bank of Nigeria (CBN) put the NFEM rate at ₦1,32915 per dollar for the September 15 trading session. The CBN describes the NFEM rate as the volume-weighted average and the official exchange rate for the day.
In the parallel market, the dollar is currently quoted at about ₦1,380 for buying and ₦1,385 for selling, according to Aboki Forex’s latest market update The platform says its parallel-market rates are updated hourly based on rates collected from dealers across major Nigerian cities.
This means buyers looking to purchase $1 in the parallel market may need about ₦1,385, while those selling a dollar could receive around ₦1,380, depending on the dealer, location and transaction size
The difference between the NFEM rate and the parallel-market selling rate is about ₦5585 per dollar, while the gap between the official rate and the parallel-market buying rate stands at about ₦50.85.
The spread between the two markets remains an important indicator for businesses and individuals who rely on foreign exchange for imports, international payments, tuition, travel and other dollar-denominated transactions
Market rates can change during the day as dollar supply and demand fluctuate Aboki Forex also cautions that parallel-market rates may vary by location, dealer and transaction size.
For official transactions, the applicable exchange rate will depend on the authorised financial institution and the prevailing NFEM rate, while parallel-market transactions may attract different buying and selling rates
As of Wednesday, September 16, 2026, the latest figures show the dollar at ₦1,32915 at the NFEM, while the parallel market is around ₦1,380 buying and ₦1,385 selling.