The Nigerian naira depreciated against the United States (US) dollar on Thursday, 5th March 2026, closing at N1,388 per dollar at the Central Bank of Nigeria (CBN) official foreign exchange window.
The data shared on the official website of the Central Bank of Nigeria (CBN) showed that the naira traded at the Nigerian Foreign Exchange Market (NFEM) rate of N1,387.4475 per dollar and closed at N1,388 per dollar in the official market.
The Thursday’s closing rate shows depreciation compared to a rate of N1387.0955 and N1382.65, the rates at which the Naira traded and closed on Wednesday, 4th March, 2026.
At the parallel market, the naira to dollar exchange rate has drastically decreased compared to the black market rates on Wednesday, 4th March, 2026.
According to the Bureau De Change operators across Lagos, Kano, Port Harcourt, and Abuja, the Naira to dollar exchange rate at the black market on Thursday, 5th March, 2026, stands at N1,375 per dollar for the buying rate and N1,385 per dollar for the selling rate, reflecting a N10 difference between the buying and selling rates.
Market Summary
CBN (Official) — N1,388/$
Black market — N1,375— N1,385