Naira suffers fourth consecutive decline against dollar in official market

The Nigerian naira continued its streak of depreciation against the United States (US) dollar, fourth consecutive decline this week, after closing at N1,361.5 per dollar at the Nigerian Foreign Exchange Market (NFEM) on Thursday, 26th February 2026. 

The data shared on the official website of the Central Bank of Nigeria (CBN) showed that the naira opened trading at the NFEM rate of N1,359.8181 per dollar and closed at N1,361.5 per dollar in the official market. 

This shows a further depreciation when compared to the NFEM rate of N1,356.1141 at which the currency traded and closed at N1359.5 per dollar on Wednesday, 25th February 2026.

ALSO READ: Naira closes at N1,359.5/$ in official market

At the parallel market, the naira to dollar exchange rate has also slightly reduced when compared to Wednesday, 25th February 2026. This could possibly be due to demands of the United States (US) dollar at the black market. 

According to the Bureau De Change operators in major commercial hubs in Lagos, Kano, Port Harcourt, and Abuja, the Naira to dollar exchange rate at the black market on Thursday, 26th February, 2026 was N1,360 for the buying rate and N1,380 for the selling rate.

Market Summary 

NFEM (Official) — N1,361.5/$

Black market — N1,360 – N1,380