Dollar to Naira Today 26th September 2026 – Live Rate Update
As at Saturday, 26th September 2026, 08:00 WAT, the Nigerian naira is trading at ₦1,326.31 per US dollar at the official CBN window (NFEM) and ₦1,375 to ₦1,390 per dollar at the parallel market, also known as black market or Aboki market in Lagos, Abuja, and Port Harcourt.
This is today’s confirmed rate and this report gives you the full breakdown, why the rates moved this week, and what it means if you want to buy, sell, or receive dollars.
Today’s Rates At A Glance – Saturday 26 September 2026
| Market | Buying | Selling | Change vs Yesterday |
|---|---|---|---|
| CBN Official / NFEM | ₦1,326.31 | ₦1,326.31 | ₦3.20 stronger (from ₦1,329.51 on Friday) |
| Black Market Lagos (Computer Village/Ikeja) | ₦1,375 | ₦1,385 | ₦5 weaker |
| Black Market Abuja (Wuse Zone 4) | ₦1,378 | ₦1,390 | ₦10 weaker |
| Black Market Port Harcourt | ₦1,376 | ₦1,388 | Flat |
| Banks (GTB, FirstBank, Zenith, Access) | ₦1,326.31 | ₦1,340–₦1,360 | Margin: CBN + 1.5% |
The gap between official and parallel market today is ₦48 to ₦63 per dollar, wider than Thursday’s gap of ₦31. That widening is the main story today.
Why Dollar to Naira Moved Today? 3 Big Reasons
1. CBN Cut Interest Rate to 23% – Largest Single Cut Ever
On Monday-Tuesday, 21-22 September, CBN held its 307th MPC meeting. Governor Olayemi Cardoso announced a 350 basis points cut in Monetary Policy Rate (MPR) from 26.5% to 23%. This is the biggest cut in CBN history. d15d
Corridor was recalibrated to +50/-300bps around 23%, CRR was retained at 45% for Deposit Money Banks. db6a
Why does this affect dollar? When CBN cuts interest rate, naira assets become less attractive to hot money investors. Some foreign portfolio investors who were holding Nigerian T-bills at 26.5% yield will sell and buy dollars, pushing parallel market up to ₦1,400. Traders in Lagos told Abokiforex that after MPC, dollar demand jumped 30%.
But Cardoso defended the cut, saying: “Fundamentals have changed. We are at macroeconomic stability. The tight thing that we have done has done its job”. 2a6e
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Headline inflation eased to 15.39% in August from 15.43% in July, food inflation dropped to 19.57% from 20.31%, core inflation fell to 13.29%, so CBN felt confident to cut. d15d
2. External Reserves Hit $55.25 Billion – 18-Year High
Despite the rate cut pressure, official naira stayed strong at ₦1,326.31 because Nigeria’s external reserves climbed to $55.25bn as at 18th September 2026, the highest in 18 years, enough to cover 11.3 months of imports. d15da67a
Current account surplus jumped 67.92% from $4.49bn in Q1 to $7.54bn in Q2 2026. Balance of payments surplus rose from $2.38bn to $3.51bn. Exports rose from $15.56bn to $20.08bn, crude oil exports to $9.39bn, gas to $3.63bn. a67a
Remittances also helped: Monthly diaspora remittances rose from $200m when CBN started reforms to almost $1bn by July 2026, driven by BVN for Nigerians abroad and IMTO reforms. IMTO inflows Jan-Jul 2026 hit $3.8bn, up 50.2% year-on-year. 2a6ed15d
So official market has strong dollar supply, keeping CBN rate stable at ₦1,326.31.
3. Oil Price War Premium
Brent spiked to $108 this week due to US-Iran escalation and Hormuz disruption, then eased to ∼$100. That $35 premium above budget benchmark of $64.85 is what keeps reserves high enough to make the MPR cut possible. 101c
Dollar to Naira Conversion Table Today
A. At Black Market Rate ₦1,375 (buying) to ₦1,390 (selling):
- $1 = ₦1,375 / ₦1,390
- $5 = ₦6,875 / ₦6,950
- $10 = ₦13,750 / ₦13,900
- $20 = ₦27,500 / ₦27,800
- $50 = ₦68,750 / ₦69,500
- $100 = ₦137,500 / ₦139,000
- $200 = ₦275,000 / ₦278,000
- $500 = ₦687,500 / ₦695,000
- $1,000 = ₦1,375,000 / ₦1,390,000
- $5,000 = ₦6,875,000 / ₦6,950,000
- $10,000 = ₦13,750,000 / ₦13,900,000
B. At CBN Official Rate ₦1,326.31:
- $1 = ₦1,326.31
- $100 = ₦132,631
- $500 = ₦663,155
- $1,000 = ₦1,326,310
- $5,000 = ₦6,631,550
If you are in UK/US and selling dollars to family in Nigeria via LemFi, Afriex, Send by Flutterwave, you will get rate close to black market – today around ₦1,375-₦1,380, not CBN rate. That is ₦50,000 more per $1,000 than bank rate.
Historical Context: Is Naira Better Today Than Before?
- 52-week high: ₦1,503.75/$ (official) in early 2025
- Early September 2026: Official window was ~₦1,315/ $, appreciating from ₦1,368/$ end of July
- Today 26 Sep 2026: ₦1,326.31/$ – still 12% stronger than last year’s high
- Black market high this week: ₦1,400/$ after MPC cut, up from ₦1,360/$ last week d15d
So officially, naira is stable and stronger than last year. In parallel market, there is short-term volatility due to rate cut.
Real GDP grew 4.43% in Q2 2026 vs 4.23% Q2 2025, non-oil sector 4.31%, oil sector 7.31%. Stock market reacted positively: All-Share Index rose 18bps to 250,614.66 after rate cut announcement. d15d
What This Means For You
If you want to BUY dollars today (japa, school fees, PTA):
Best route is bank Form A at CBN rate ₦1,326.31 + bank commission (usually ₦1,340-₦1,360). Cheaper than black market ₦1,390. Go to your bank with admission letter, passport, and Form A. Black market is faster but costs ₦60 extra per dollar. For $5,000 school fees, you save ₦300,000 using official window.
If you want to SELL dollars today (diaspora remittance):
Do not sell at bank rate. Use BDC or trusted fintech like LemFi that tracks black market. Today, selling $500 at ₦1,385 gives you ₦692,500 vs bank ₦663,155 – you gain ₦29,345.
If you are business importing goods:
Official market liquidity is high at ₦7.45tn banking system liquidity. CBN says FX pressures have receded significantly. Importers can get dollars at official window faster now, but BDCs still charge premium. a67a
Expert Opinions After Rate Cut
- Muda Yusuf (CPPE CEO): Said the cut is significant turning point, could ease financing pressures on businesses, but impact depends on banks transmitting lower rate to borrowers.
- Prof Uche Uwaleke: Welcomed decision, citing moderating inflation, exchange-rate stability, improved FX liquidity and stronger reserves. 4e6a
CBN also disclosed it did scenario analysis ahead of election period to monitor currency circulation, banking liquidity, monetary aggregates and FX demand. 4e6a483d
FAQs
What is dollar to naira today 26th September 2026?
CBN official rate is ₦1,326.31 per dollar, black market is ₦1,375 to ₦1,390 per dollar as at Saturday morning.
Why did black market go to ₦1,390?
Because CBN cut MPR to 23% from 26.5%, making naira less attractive for investors holding naira assets, so they bought dollars.
Will naira go up or down next week?
With reserves at $55.25bn 18-year high and current account surplus $7.54bn, official rate likely stays stable around ₦1,320-₦1,335. Black market may stay elevated at ₦1,370-₦1,400 until market digests rate cut.
Where can I check live dollar to naira today?
Check CBN website for official NFEM rate, http://Abokiforex.app for black market, and your bank app for card rate.