Nigeria’s official and parallel foreign-exchange rates have moved to within 2% of each other, Central Bank of Nigeria Governor Olayemi Cardoso said on Tuesday at an event in Gombe. Cardoso, represented by the bank’s acting spokesperson, Hakama Sidi-Ali, said the naira had maintained its gains against the US dollar across both market segments. He said the difference between the official rate and Bureau de Change pricing was now below 2%. Cardoso linked the improvement to foreign-exchange reforms, which he said had helped drive a sustained rise in Nigeria’s external reserves. Central bank figures put reserves at $51.94 billion on August 3, 2026. In Wednesday trading, the naira finished at N1,362.55 per dollar in the official market, while the parallel-market rate was N1,425 to the dollar.
