Dollar–Naira Exchange Rate Update For April 29, 2026

The naira continued to trade against the United States dollar at varying rates across segments of the foreign exchange market on Tuesday, April 28, 2026, reflecting ongoing pressure in Nigeria’s currency space.

According to market information obtained by Ireporter Online, the dollar was traded at the parallel market, commonly referred to as the black market, at a selling rate of ₦1,400 and a buying rate of ₦1,390 among Bureau De Change operators in Lagos. The figures indicate the prevailing demand and supply dynamics within the informal forex market, where many Nigerians turn for quick currency exchange.

Reports further indicate that despite the widespread use of the parallel market, the Central Bank of Nigeria has consistently maintained that it does not recognise such transactions. The apex bank has advised individuals and businesses seeking foreign exchange to conduct their dealings through authorised financial institutions.

Meanwhile, data from the official window shows that the dollar traded within a range, with the highest rate recorded at ₦1,385 and the lowest at ₦1,367, highlighting a slight disparity between the official and unofficial markets.

However, currency traders noted that actual buying and selling rates may differ slightly from quoted figures due to fluctuations influenced by demand, location, and volume of transactions.