GistReel
The naira was quoted at ₦1,322.72 to the US dollar at the Nigerian Foreign Exchange Market (NFEM) on Thursday, September 10, 2026, while the parallel market recorded rates of up to ₦1,390 per dollar.
The official exchange rate remained at the same level recorded on September 9, according to available rate data, with September 10 historical figures also showing ₦1,322.72 per dollar.
Away from the official market, dollar transactions continued at higher rates. Early Thursday, one parallel-market tracker reported that dealers were buying the dollar for around ₦1,380 and selling it for approximately ₦1,390.
A separate market tracker also listed the dollar around ₦1,390 on September 10, although actual rates may differ depending on the dealer, location and volume involved.
Using the parallel-market selling rate of ₦1,390, the dollar was trading ₦67.28 above its official NFEM rate.
The latest figures come amid a period of relative stability for the naira at the official window.
Data attributed to the Central Bank of Nigeria showed the currency trading around ₦1,320 per dollar on September 8, following gains recorded in the official market.
The contrasting rates mean that Nigerians sourcing dollars outside the official market were still paying a premium compared with the NFEM rate as of Thursday.
However, foreign-exchange prices are not static and can move during the day as market conditions change.
Factors such as dollar availability, demand, trading volumes and actions by the Central Bank of Nigeria can influence the rates.
Consequently, the parallel-market figures serve as an indication of prevailing prices and should not be regarded as uniform rates across all dealers.
Customers purchasing foreign currency through banks or licensed Bureau de Change operators may also receive rates different from those quoted in either the official or parallel markets, depending on the purpose and conditions of the transaction.