The Nigerian Naira started the first full trading week of April 2026 on a steady note against the US Dollar. Across both the official and parallel markets, the currency showed signs of stability, supported by recent financial reforms and the Central Bank’s tight monetary policies.

At the official Nigerian Foreign Exchange Market (NFEM), the Naira traded at around ₦1,377.80 per dollar in early Monday sessions. This is a slight improvement compared to last week’s closing rate of ₦1,380.79.

The steady performance is being supported by improved transparency from the Electronic Foreign Exchange Matching System, which continues to help keep rates within a stable range.

In the parallel market, the Naira also remained relatively stable. Exchange rates in major cities like Lagos, Abuja, and Kano ranged between ₦1,405 and ₦1,415 per dollar. The difference between the official and black market rates is about ₦32, which is still lower than what has been seen in the past.

Several economic factors are influencing the current exchange rate. Nigeria’s external reserves are expected to grow after recently reaching about $49.29 billion.

At the same time, the Central Bank has kept interest rates high at 26.5% to control inflation and attract foreign investors. Increased remittance inflows through official channels are also helping to boost dollar supply.

Looking ahead, the Naira is expected to trade between ₦1,370 and ₦1,390 in the official market. Market watchers will continue to monitor oil prices, foreign investments, and any new policies from the Central Bank that could further stabilize the currency.