The naira weakened to ₦1,367.61 per dollar at Nigeria’s official foreign-exchange market on Monday, extending its decline from Friday as reported turnover fell to $614.25 million across 201 deals.
The Nigerian Foreign Exchange Market rate stood at ₦1,361.84 on Friday, according to Central Bank of Nigeria data cited by financial publication BizWatch Nigeria. Trading on Monday ranged from ₦1,359 to ₦1,380 per dollar. Turnover was down from $1.01 billion across 315 deals at the end of the previous week.
The figures show a weaker official-market close alongside a marked reduction in reported trading activity. They do not, on their own, establish the reason for the lower turnover or signal how the next session will move.
Official and parallel quotations differ
Indicative parallel-market quotations published on Tuesday varied by source. Gatekeepers News cited a buying rate around ₦1,370 and a selling rate of ₦1,385 per dollar, while a separate report by NUJ Nigeria put the range at roughly ₦1,375 to buy and ₦1,390 to sell. Street and bureau-de-change quotes can vary by city, dealer, transaction size and time of day; they are not an official CBN fixing.
For businesses that rely on imported inputs, travel payments or overseas suppliers, even small movements can affect replacement costs and cash-flow planning. A lower reported turnover can also make daily readings more sensitive to the mix of deals, which is why the underlying activity data matters alongside the headline exchange rate.
The official rate cited here is Monday’s close, not a live Tuesday quote. The CBN publishes NFEM data and defines its daily weighted rate from market transactions. Readers making payments should confirm the executable rate with their bank or an authorised dealer, since a published reference and a customer’s final transaction price may differ.
Investors and companies will be watching the next CBN data release for evidence on whether Monday’s decline continues and whether turnover recovers. For now, the clearest signal is a softer naira at the official window paired with thinner activity than on Friday.
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