Market News

The Nigerian naira continued to depreciate against the United States (US) dollar on Tuesday, 3rd March, 2026, closing at N1,390 per 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 N1,384.2920 per dollar and closed at N1,390 per dollar in the official market. 

According to the data of the previous trading rates, when the Naira traded at NFEM rate of N1,378.0246 per dollar and closed at N1,376 per dollar in the official market, Tuesday’s official exchange rate shows the Naira depreciated by at least N6 at NFEM rate and closed with N14 loss per dollar in the CBN official window.

At the parallel market, the naira to dollar exchange rate has been the same for some days now. This could possibly be due to decreasing demand for the US currency. 

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 Tuesday, 3rd March, 2026 was N1,360 for the buying rate and  N1,380 for the selling rate. 

Market Summary 

NFEM (Official) — N1,384/$

Black market — N1,360 – N1,380