Naira Holds Steady Against Dollar on February 9, 2026: Official Rate at ₦1,364, Black Market Steady at ₦1,440–1,455
The Nigerian Naira maintained its recent stability against the US Dollar as trading resumed on Monday, with the official Nigerian Foreign Exchange Market (NFEM) quoting around ₦1,363.84 per dollar in early sessions. This marks a slight improvement from the previous Friday's close of approximately ₦1,366.96, signaling continued appreciation pressure on the greenback. According to data from the Central Bank of Nigeria (CBN) and market trackers, the official window has hovered in the ₦1,360–1,370 range in recent days, supported by interventions that direct corporate and institutional demand away from informal channels. Mid-market rates from global converters like Xe and Wise aligned closely, showing $1 USD exchanging for about ₦1,363–1,367. In the parallel market, Bureau De Change (BDC) operators in major cities including Lagos, Abuja, and Kano quoted the dollar in a narrow band of ₦1,440 to ₦1,455. Buy rates were often around ₦1,445, while sell rates reached up to ₦1,455, reflectin...