Naira Trades Weaker as Dollar Climbs in Parallel Market — February 13 2026 Update

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Foreign exchange activity across Nigeria’s informal currency market recorded notable movements on Thursday, reflecting continued pressure on the naira against the United States dollar.

In Lagos’ parallel market, commonly referred to as the black market, currency traders exchanged the greenback at rates hovering around ₦1,440 for sellers, while those looking to offload dollars received approximately ₦1,420. These figures were gathered from Bureau De Change operators actively trading on February 12, 2026.

Market participants say fluctuations remain largely driven by demand pressures, with individuals and small businesses continuing to source foreign currency outside official banking channels.

Snapshot of the Parallel Market (USD/NGN)

Transaction Type	Rate (₦)
Dollar Sold	1,440
Dollar Bought	1,420

While many Nigerians monitor the parallel market for real-time pricing, the country’s apex financial institution maintains a clear position on foreign exchange transactions.

The Central Bank of Nigeria (CBN) has repeatedly stated that it does not endorse the black market. Instead, individuals and corporate bodies seeking legitimate foreign exchange transactions are advised to process requests through authorized financial institutions.

Official Window Rates (CBN)

At the official market window, the naira traded within a narrower band. Data from the regulated market showed the dollar exchanging at a high of ₦1,357 and dipping to about ₦1,350 at its lowest point for the day.

Rather than a fixed price, the official market operates within controlled fluctuations influenced by policy directives and supply dynamics.

It is important to note that actual buying or selling prices may differ slightly from published figures due to location, volume of transaction, and negotiation margins among dealers.

As volatility persists across both official and unofficial markets, traders and consumers alike continue to track daily movements closely for financial planning and business decisions.