The naira is facing a fresh gap between the official and parallel foreign exchange markets, with the dollar selling for about ₦1,385 in the parallel market on Wednesday, September 16, 2026.
The development has widened the difference between the two exchange rates, as the official market continues to trade at a lower rate.
According to market reports, demand for dollars in the parallel market has remained elevated, putting pressure on the naira and creating a noticeable disparity between the two markets.
The renewed gap comes amid continued volatility in Nigeria’s foreign exchange market, where changes in dollar demand and supply can influence the value of the naira.
The divergence between the official and parallel rates could have implications for businesses and individuals who require foreign exchange, particularly importers and others whose transactions are linked to the dollar.
Market participants continue to monitor developments in the foreign exchange market as authorities work to maintain stability in the naira’s value.
