The exchange rate between the Naira and the US dollar, according to the data released on the FMDQ Security Exchange, the official forex trading portal, showed that the naira closed at 1470.00 per $1 on Tuesday, February 3rd, 2026. The naira traded as high as 1381.00 to the dollar at the investors and exporters (I&E) window on Monday. This is brought to you by Bizwatch Nigeria.
How much is a dollar to naira today in the black market?
Official CBN/NFEM Exchange Rate (Central Bank / Formal Market)
- Official rate (CBN / Nigerian Foreign Exchange Market): ~₦1,390 – ₦1,400 per $1 USD (mid-market/official) — based on NFEM/CBN data tracking 02/03-26 trading activity.
Note: The official rate is the one typically reported by the Central Bank of Nigeria (CBN) and used for formal transactions through commercial banks, corporate deals, and FMDQ/NFEM platforms.
Black Market / Parallel (Aboki) Exchange Rate
- Black market selling rate: Approx ₦1,460 – ₦1,485 per $1 USD
- Black market buying rate: Approx ₦1,440 – ₦1,470 per $1 USD
These figures reflect the parallel market rates reported around February 2-3 based on local BDC operator information and marketplace tracking.
Summary Table — USD ₦ Exchange Rates
| Market Type | Exchange Rate (₦ per $1 USD) |
|---|---|
| CBN / Official/NFEM | ~₦1,390 – ₦1,400 |
| Black Market / Parallel | ~₦1,460 – ₦1,485 |
| Typical Aboki Buying | ~₦1,440 |
| Typical Aboki Selling | ~₦1,470 |
(These rates fluctuate intraday and vary by location, liquidity, and dealer margin.)
Key Notes You Can Include
- The official rate reflects the price discovered on the CBN-regulated market (NFEM), used by banks and formal FX channels.
- The black market/parallel market continues to trade at a premium above the official rate due to supply/demand dynamics.
- Rates presented may differ slightly from bank offers or BDC quotes depending on location (e.g., Lagos vs Abuja) and dealer pricing.
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