LAGOS — The Nigerian Naira showed signs of relative stability in the mid-week trading session, maintaining a tight spread between official and parallel market rates as of Wednesday, April 8, 2026.
At the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira closed at N1,389.00 per U.S dollar, a marginal movement from Tuesday’s mean of N1,386 Market turnover recorded at the close of the previous business day stood at $48.66 million, reflecting steady, albeit cautious, liquidity levels in the interbank space.
The parallel market saw the Naira trading at an average of ₦1,381.43 in Lagos by mid-day. This brings the unofficial rate very close to the official one, nearly wiping out the profit gap for currency speculators. Analysts attribute this stability to recent central bank policies and efforts to tighten the supply of Naira in the market.
Against other major benchmarks
| Currency | Rate (N per unit) |
| British Pound (GBP) | N1,829.15 |
| Euro (EUR) | N1,598.69 |
| Ghanian Cedi (GHS) | N125.49 |
| South African Rand (ZAR) | N81.70 |
Market participants remain focused on upcoming inflation data and global oil price volatility, which continue to act as the primary drivers for the local currency’s valuation.
