Naira Continues Depreciation Against Dollar in Official Market

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The Nigerian naira depreciated against the United States (US) dollar again on Monday, 23rd February 2026, closing at N1,353.5 per dollar at the Nigerian Foreign Exchange Market (NFEM).

According to data released from the official website of the Central Bank of Nigeria (CBN), the naira opened trading for this week at the NFEM rate of N1,349.2352 per dollar and closed at N1353.5 per dollar in the official market.

This depicts further depreciation compared to a rate of N1346.3234 and N1,348, the rates at which the Naira traded and closed on Friday, 20th February, 2026.

At the parallel market, according to the Bureau De Change operators in major commercial centres like Abuja, Lagos, Port Harcourt, and Kano, the Naira to dollar exchange rate at the black market on Monday, 23rd February, 2026 was N1,350 for the buying rate and N 1,370 for the selling rate.

Market Summary

NFEM (Official) — N1,353.5 /$

Black market — N1,350- N1,370