The Nigerian naira weakened slightly against the US dollar at the Central Bank of Nigeria's official foreign exchange window on Friday, 17th April, 2026, trading at N1,343.6398 per dollar. The currency had closed at N1,342.5000 the previous day, indicating a depreciation of at least N1.3 from the N1,342.3037 rate recorded on 16th April, 2026. This movement was reflected in the Nigerian Foreign Exchange Market (NFEM) data published on the CBN's platform. At the close of trading, the naira settled at N1,342.5000 per dollar. Meanwhile, activity in the parallel market showed a divergence between buying and selling rates. According to Aboki FX, the black market exchange rate stood at N1,395 per dollar for buying and N1,405 per dollar for selling on the same day. The buying rate remained unchanged from the previous session, while the selling rate rose by N3.
The Central Bank of Nigeria reports a minor official depreciation of the naira, yet the gap between the official rate and the parallel market selling rate remains above N60. Nigerians relying on the black market for foreign exchange access face a reality far removed from the CBN's published figures. This disconnect undermines confidence in the official market as a true reflection of the naira's value.
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