The Nigerian naira appreciated against the United States (US) dollars on Wednesday, 4th March, 2026, closing at N1,382.65per dollar at the Central Bank of Nigeria (CBN) official foreign exchange window.
The data shared on the official website of the Central Bank of Nigeria (CBN) showed that the naira traded at the Nigerian Foreign Exchange Market (NFEM) rate of N1,387.0955 per dollar and closed at N1,382.65 per dollar in the official market.
According to the data of the previous trading rates, the Naira closed at N1,390 per dollar in the official market on Tuesday. However, Wednesday’s official exchange rate shows the Naira depreciated by at least N2 at the NFEM rate and appreciated by at least N7 per dollar at the closing rate in the CBN official window.
This represents a modest improvement from N1,390 per dollar, the rate at which the Naira closed on Tuesday, 3rd March, 2026, thereby showing a slight gain as trading continues for the week.
At the parallel market, the naira to dollar exchange rate recorded significant volatility, with the black market rate for the US dollars recording a sharp increase compared to the previous trading rates.
According to the Bureau De Change operators across Lagos, Kano, Port Harcourt, and Abuja, the Naira to dollar exchange rate at the black market on Wednesday, 4th March, 2026 was N1,492 per dollar for buying rates and N1,508 per dollar for selling rates.
Market Summary
CBN (Official) — N1,382.65/$
Black market — N1,492— N1,508