Nigerian naira extends depreciation against US dollar across black, official markets

Keep up with the latest news and be part of our weekly giveaways and airtime sharing; follow our WhatsApp channel for more updates. Click to Follow us

The Nigerian Naira continued its substantial depreciation against the United States Dollar in both parallel and official foreign exchange markets.

In the black market, Abubakar Hassan, a Bureau De Change operator in Wuse Zone 4, informed ZINGTIE that the Naira depreciated to N1405 per dollar on Thursday, increasing from N1390 the day before.

This indicates that the Naira depreciated by N15 daily in the black market.

At the official foreign exchange, the Naira also declined to N1,387.45 per dollar on Thursday from the previous day’s rate of N1,387.09. The local currency has experienced its tenth consecutive devaluation against the dollar in the official market.

Despite the rise to $49.88 billion on March 3, 2026, from last month’s $49.60 billion, the naira continues to trend downward in foreign markets.

Remember that, following the ninth day of depreciation, it fell by N37.85 against the dollar in the official foreign exchange market.

Please don’t forget to “Allow the notification” so you will be the first to get our gist when we publish it. 
Drop your comment in the section below, and don’t forget to share the post.