The Nigerian Naira began the final trading week of April 2026 on a relatively stable footing, as foreign exchange markets continue to respond to evolving liquidity conditions and policy adjustments.
In the official market, the currency recorded a slight gain in early Monday trading within the Nigerian Foreign Exchange Market (NFEM). The exchange rate hovered around ₦1,352.25 per US dollar, reflecting mild improvement compared to fluctuations seen in the previous week.
Last week’s trading session had seen the Naira move within a narrow but volatile band, peaking at about ₦1,355.80 and strengthening briefly to around ₦1,350.00 at its lowest point before closing within that range.
The Central Bank of Nigeria continues to supervise transactions in the official window under the “willing buyer, willing seller” framework, aimed at improving transparency and price discovery in the FX market. Early-week activity suggests cautious participation from investors, as market players assess broader economic signals and foreign exchange supply trends.
In the parallel market, the Naira remains weaker, with traders in major cities such as Lagos and Abuja reporting an average exchange rate of about ₦1,475 to the dollar. The gap between official and unofficial rates, though still present, has narrowed compared to previous years amid ongoing reforms in the foreign exchange system.
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Currency dealers attribute demand in the informal market largely to individuals and small businesses seeking quick access to foreign exchange for travel, tuition, and other non-formal transactions.
Analysts say recent stability in the Naira has been supported by improved investor appetite for Nigerian fixed-income assets and relatively steady global oil prices, which continue to influence foreign exchange inflows.
However, persistent demand for dollars—particularly for imports and external obligations—continues to place pressure on the local currency.
Market participants are expected to monitor updates from trading platforms such as the FMDQ Securities Exchange as the day progresses, with attention on closing rates that could set the tone for FX performance throughout the week.
