GistReel
The dollar exchanged at ₦1,346.49 in the official NFEM market and around ₦1,405 in the parallel market on Monday, August 24, 2026.
The latest confirmed official rate available from the Central Bank of Nigeria (CBN) was recorded on Friday, August 21, as the central bank had yet to publish Monday’s NFEM figure.
The naira has maintained relative stability against the United States dollar in recent trading sessions, with the gap between the official and parallel markets remaining fairly narrow.
Official market rate
According to the latest CBN data, the NFEM rate stood at ₦1,346.49 per dollar on Friday.
The dollar, however, closed the session at ₦1,346.90.
The official NFEM figure reflected the volume-weighted average of transactions carried out in the foreign exchange market.
Friday’s rate also showed a slight improvement compared with Thursday’s ₦1,347.63.
This means the naira strengthened by ₦1.14 against the dollar within one trading day.
On a week-on-week basis, the currency recorded a gain of ₦11.12.
The dollar traded between ₦1,342 and ₦1,348 during Friday’s session before closing at ₦1,346.90.
Parallel market rate
In the parallel market, the dollar was selling for about ₦1,405 on Friday, according to AbokiFX data.
The rate was unchanged from Thursday’s quotation.
Based on the official closing rate of ₦1,346.90, the difference between the two markets stood at approximately ₦58.10 per dollar.
A separate live foreign-exchange benchmark quoted the dollar at about ₦1,348.88 against the naira on Monday morning.
That figure was still relatively close to the latest official market rate.
What is supporting the naira?
Recent improvements in foreign-exchange liquidity and stronger external reserves have supported the naira’s performance.
Data cited by AbokiFX showed that Nigeria’s external reserves rose to $52.66 billion as of August 19, 2026.
Despite the published benchmarks, the actual rate available to customers may differ across banks and Bureau de Change operators.
Transaction size, location and prevailing market conditions can also affect the rate offered to buyers and sellers of foreign currency.
Parallel-market quotations should equally be treated as indicative because they can change during the day.
For Monday, August 24, the latest confirmed figures therefore remained ₦1,346.49/$ in the NFEM, ₦1,346.90/$ as the official closing rate and about ₦1,405/$ in the parallel market.