Naira Holds Steady Against Dollar as CBN Harmonises FX Markets – Feb 20, 2026

On Saturday 21 2026, the Nigerian naira traded with measured stability against the US dollar in both official and parallel markets. At the Nigerian Foreign Exchange Market (NFEM) window, the currency opened at ₦1,344.74 per dollar edged up to a high of ₦1,345.58 and settled around ₦1,345.40 by mid‑day, just below the previous day’s close of ₦1,346.00

The modest volatility reflects ongoing efforts by the Central Bank of Nigeria (CBN) to narrow the gap between official and informal rates. A recent policy allowing Bureau De Change (BDC) operators to purchase up to $150,000 weekly from authorized dealer banks has eased retail demand pressure, helping keep the official market range tight between ₦1,340–₦1,350

In the parallel (black‑market) segment, the dollar was quoted at ₦1,360–₦1,365 a premium of roughly 15–20 naira over the official rate. Analysts note that while the informal market still commands a higher price, consistent supply from NFEM has curbed the sharp spikes seen in previous years

1.46 million barrels per day bolstering foreign‑exchange reserves and giving the CBN more capacity to intervene.

such as the Standing Deposit Facility and stable Open Repo Rates are managing naira liquidity, preventing excess local currency from chasing dollars.

Overall, market participants expect the official rate to remain within the ₦1,340–₦1,350 corridor for the remainder of the trading day, barring any sudden global shock or policy shift.