The Nigerian naira recorded its first depreciation against the United States dollar in September 2026, closing at ₦1,321.22 per dollar on Friday, September 4, according to data from the Central Bank of Nigeria (CBN).
The official rate represented a ₦5.55 decline in the naira’s value from the previous day’s ₦1,315.67/$, marking the first daily depreciation recorded during the first week of September.
CBN data showed that the official buying rate stood at ₦1,319.45 per dollar, while the average rate was around ₦1,321.07. The reported closing figure of ₦1,321.22 therefore reflected a modest movement in the official foreign exchange market.
Despite Friday’s decline, the naira remained stronger than it was at the beginning of September. The currency had opened the month around ₦1,329.43/$, meaning it had still appreciated by roughly ₦8.21 against the dollar by the end of the first trading week.
The development is important because movements in the naira-dollar exchange rate have direct implications for businesses, importers, consumers and investors. A stronger naira can reduce the local cost of imported goods and foreign-currency obligations, while renewed depreciation could increase costs if the trend becomes sustained.
The relatively small daily movement also highlights the importance of monitoring the exchange rate over a longer period rather than drawing conclusions from a single trading session.
