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CBN: USD ₦1,386.72 · GBP ₦1,839.34 · EUR ₦1,599.16 · CAD ₦990 — Thursday 2 April 2026 ⚠ IRAN DEADLINE: April 6 — 4 days remaining · Trump threatens power plant strikes if Hormuz stays blocked Parallel market: USD ₦1,415 · GBP ₦1,910 · EUR ₦1,630 · CAD ₦1,018 — Abuja BDC traders Bonny Light crude above $103/bbl · Naira stable in Q2 Week 1 Forex reserves: $49.29B — marginal decline continues, CBN monitoring closely CBN bank recap complete: 34 banks cleared · Banking sector enters Q2 stronger CBN: USD ₦1,386.72 · GBP ₦1,839.34 · EUR ₦1,599.16 · CAD ₦990 — Thursday 2 April 2026 ⚠ IRAN DEADLINE: April 6 — 4 days remaining · Trump threatens power plant strikes if Hormuz stays blocked Parallel market: USD ₦1,415 · GBP ₦1,910 · EUR ₦1,630 · CAD ₦1,018 — Abuja BDC traders Bonny Light crude above $103/bbl · Naira stable in Q2 Week 1
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Business & Economy · Q2 Week 1 · Live RatesNaira Exchange Rate Today —
Naira Exchange Rate Today —
Thursday, 2 April 2026
CBN Official (USD)
₦1,386.72
▲ +₦2.69 vs Q1 close
Parallel Market (USD)
₦1,415
— Steady at Q1 close level
Official/Parallel Gap
₦28
▼ Narrowing vs last week’s ₦33
Iran Deadline
4 Days
April 6 — key risk event
Thursday Market Summary: The naira continues to hold steady on the second day of Q2 2026, with the CBN official rate firming slightly to ₦1,386.72 per dollar — a ₦2.69 appreciation from March’s Q1 close of ₦1,384. Think of the naira right now like a tightrope walker in steady conditions: balanced, cautious, but very aware of the wind coming from the east. That wind is the Iran war April 6 deadline — just 4 days away. The parallel market holds at ₦1,395–₦1,415 across BDC hubs in Lagos, Abuja and Kano. The official-parallel gap has narrowed to approximately ₦28, the tightest in several weeks, reflecting improved CBN FX supply.
Days to Iran Deadline
4
⚠ April 6 — Trump’s Hormuz Ultimatum
If the US resumes power plant strikes on Iran on April 6, Brent crude could surge from ~$101 to $110–$120/bbl within hours. This would push Nigeria’s parallel rate toward ₦1,440–₦1,460 and fuel prices back up to ₦1,400/litre or higher. Conversely, if Trump extends the deadline again or Islamabad summit diplomacy succeeds, the naira could firm to ₦1,370–₦1,380 by mid-April. This is the single biggest variable for the naira this week.
Official CBN Rates — Thursday 2 April 2026 NFEM · CBN EFEMS · Verified
| Currency | Buying (₦) | Selling (₦) | CBN Mid Rate | vs Yesterday |
|---|---|---|---|---|
USD US Dollar | ₦1,383.50 | ₦1,390.00 | ₦1,386.72 | ▲ +₦1.45 |
GBP British Pound | ₦1,832.00 | ₦1,847.00 | ₦1,839.34 | ▲ +₦2.34 |
EUR Euro | ₦1,593.00 | ₦1,605.00 | ₦1,599.16 | ▲ +₦7.16 |
CAD Canadian Dollar | ₦986.00 | ₦994.00 | ₦990.00 | — Flat |
CNY Chinese Yuan | ₦190.50 | ₦192.50 | ₦191.50 | — Flat |
Parallel (Black) Market Rates — Thursday 2 April 2026 BDC · Lagos · Abuja · Kano
🇺🇸 USD — US Dollar
Buying
₦1,395
/
Selling
₦1,415
▲ 1.8% vs last week · Wuse Zone 4: ₦1,410–₦1,430
🇬🇧 GBP — British Pound
Buying
₦1,870
/
Selling
₦1,910
▼ 0.52% · Easing slightly vs last week
🇪🇺 EUR — Euro
Buying
₦1,590
/
Selling
₦1,630
→ 0% · Unchanged — stable this week
🇨🇦 CAD — Canadian Dollar
Buying
₦1,004
/
Selling
₦1,018
▲ 0.3% · Holding Q2 open gains
Q2 Week 1 — How the Naira Has Moved Tue 31 Mar – Thu 2 Apr
| Day | CBN Official | Parallel | Gap | Note |
|---|---|---|---|---|
| Fri 27 Mar | ₦1,384.25 | ₦1,415 | ₦31 | Q1 last Friday |
| Tue 31 Mar | ~₦1,384 | ₦1,415 | ₦31 | Q1 close · B+ |
| Wed 1 Apr | ₦1,385.27 | ₦1,420 | ₦35 | Q2 opens steady |
| Thu 2 Apr ← Today | ₦1,386.72 | ₦1,415 | ₦28 | Gap narrowing · Live |
| Sun 6 Apr | Iran deadline — key rate-moving event | |||
The official-parallel spread has narrowed from ₦33 last week to ₦28 today — reflecting improved CBN FX supply via EFEMS. Watch Sunday April 6 for the single biggest rate-moving event of Q2 Week 1.
USD/NGN Rate — Past 2 Weeks + Q2 Opening CBN Official & Parallel · Mar 20 – Apr 2
What Today’s Rate Means for the Nigerian on the Street Real-Life Impact · April 2
Plain talk: The naira is in a narrow holding pattern — slightly stronger than Q1 close, slightly weaker than yesterday’s parallel. The gap between the official and street rate (₦28) is the narrowest in weeks — a positive sign. But the next 4 days are critical. Here is what today’s rate means for your daily life.
Food & Market Prices
A stable naira around ₦1,386 keeps import costs contained. But food prices lag the currency — last month’s Iran war surge is still working through distribution chains. Modest price softening on imported staples (vegetable oil, tomato paste) is possible in mid-April if the Iran situation stabilises post-April 6. Do not expect dramatic falls at the market this week.
Slow easing — watch April 6Fuel & Transport
Dangote’s ₦1,200 gantry price is flowing through: some retail stations in Lagos and Abuja are now selling below ₦1,350/litre. Further reductions are likely if April 6 passes without new strikes. Brent at ~$101 is manageable for the refinery’s pricing model. A spike above $115 would immediately reverse recent pump price gains — the risk window is the next 4 days.
Prices falling — protect post–Apr 6Remittances
Today’s parallel market sell rate of ₦1,415 per dollar is the same as last Friday — meaning remittance recipients are getting a consistent, predictable rate. Use your bank’s IMTO window. The CBN’s new rule routing diaspora transfers through naira settlement accounts has tightened spreads. Avoid street BDCs — their ₦1,410–₦1,430 range is less predictable around the April 6 deadline.
Consistent rate — use bank IMTOSchool Fees Abroad
A $10,000 school fee payment costs ₦13.87M at the CBN official rate today — marginally more expensive than yesterday (₦13.85M) but still significantly cheaper than Q1’s worst parallel rate of ₦15.4M. If your payment is flexible, wait until after April 8 — post-deadline clarity could push the official rate to ₦1,370–₦1,380, saving ₦60,000–₦170,000 on a $10K payment.
Wait for post-Apr 6 if flexibleSME Importers
Early April remains a historically calm FX window — Q1 corporate demand has cleared and Q2 pressure hasn’t built yet. This week (Monday–Friday before April 6) is one of the best FX buying windows in Q2. The narrowing official-parallel gap (₦28 today) means less slippage between what you plan and what you pay. Act before Thursday close if your import cycle allows.
Best Q2 window — act before Apr 6Dollar Subscriptions & Tech
Netflix, Spotify, Adobe and similar dollar-billed services: at ₦1,387 official, a $10 subscription costs ₦13,870 — essentially unchanged from last week. Bank FX desks are processing subscription payments at the official rate, giving cardholders a structural advantage over parallel market buyers. No change expected until the April 6 situation resolves.
No change — stable at ₦13,870/$10🚨 Your April 6 Pre-Deadline Action Plan
!
Do NOT make large non-urgent dollar purchases on Friday April 4 or the weekend of April 5–6. This is Iran deadline week — rate volatility can be sudden and severe within hours of any announcement.✓
Complete urgent dollar needs by Thursday (today) close of business — the ₦1,386 official rate is accessible today without the April 6 risk premium baked in.✓
If Trump extends the deadline again (as he did from March 23 to April 6), the naira may firm sharply toward ₦1,370. Be ready to act quickly on April 7–8 if diplomacy wins.✓
If strikes resume, Brent could hit $115–$120/bbl within 48 hours. The naira parallel rate could push to ₦1,440–₦1,460. Hold non-urgent positions and wait for the market to re-settle — typically 5–7 days after a shock.✓
Receiving remittances this weekend? Use bank IMTO, not street BDCs. BDC operators widen their spread dramatically around geopolitical events — you could lose ₦15–₦25 per dollar compared to the official channel.✓
Budget for Q2 at ₦1,420 per dollar — covers worst-case Iran escalation with a buffer. If April 6 passes quietly, revise your Q2 FX budget downward to ₦1,390 in mid-April. Disclaimer: Rates sourced from NairaToday.com (2 April 2026), NgnRates.com (Lagos/Abuja BDC operators), and CBN EFEMS. Official CBN rate is the Volume Weighted Average from the NFEM window. Parallel market rates may vary by city and transaction size. Always verify before transacting. Not financial advice.