Here is the current exchange rate for the US Dollar to the Nigerian Naira as of Friday morning, April 24, 2026.
Black Market (Parallel Market) Exchange Rate
In the informal market, the Naira is trading within the following range across major hubs like Lagos, Abuja, and Kano:
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Buying Rate: ₦1,475
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Selling Rate: ₦1,490
Official NAFEM (CBN) Exchange Rate
Data from the FMDQ Securities Exchange indicates that the Naira opened the session with a slight depreciation compared to yesterday:
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Official Rate: ₦1,353.13 per $1
Market Summary & Trends
The exchange rate is currently experiencing mild volatility as the market reacts to sustained demand from importers and individuals.
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The Gap: There is currently a premium of approximately ₦137 between the official and black market rates.
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Demand Pressure: Market analysts note that the “persistent demand for foreign currency and tight supply conditions” continue to put pressure on the local currency.
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Liquidity: The Central Bank of Nigeria (CBN) maintains a managed float, focusing on providing liquidity to essential sectors like energy and manufacturing to prevent drastic swings.
Note: Rates in the black market are subject to rapid change throughout the day based on location and volume of the transaction. It is advisable to confirm with your local BDC operator before finalizing any deal.
