BREAKING
IRAN REJECTS CEASEFIRE — Trump extends deadline to TUESDAY 8pm ET · “Every bridge and power plant” threatened Naira RESILIENT: CBN opens at ₦1,377.80 — stronger than last week despite oil spike to $108–$114/bbl Parallel market: USD ₦1,420 sell · GBP ₦1,910 · EUR ₦1,620 · CAD ₦1,022 Brent crude: $108.67 · US crude spiked to $114 when Trump spoke — now easing on ceasefire hope Death toll: 3,400+ across Middle East · Pakistan mediating overnight · Oman in talks on Hormuz protocol CPPE: Naira traded ₦1,340–₦1,430 in Q1 · Q2 outlook cautiously optimistic but Iran risk persists IRAN REJECTS CEASEFIRE — Trump extends deadline to TUESDAY 8pm ET · “Every bridge and power plant” threatened Naira RESILIENT: CBN opens at ₦1,377.80 — stronger than last week despite oil spike to $108–$114/bbl
🔴 IRAN DEADLINE BREAKING: Iran rejected the 45-day ceasefire proposal. Trump extended his deadline to Tuesday 8pm ET (Wednesday 01:00 WAT) and threatened every Iranian power plant and bridge. Negotiations continue through Pakistan, Egypt and Turkey. Oil spiked to $108–$114/bbl. The naira, remarkably, held firm.
▲ NAIRA HOLDS Despite the oil spike and Iran rejection, the naira opened the official NFEM at ₦1,377.80 — slightly stronger than last Thursday’s ₦1,380.79 close. Like a ship that has weathered the storm so long it has learned to sail through it, the naira is demonstrating new resilience.
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🔴 Breaking · Business & Economy · Iran Deadline DayNaira Exchange Rate Today —
Naira Exchange Rate Today —
Easter Monday, 6 April 2026
CBN Official (USD)
₦1,377.80
▲ +₦2.99 vs Thu — Naira stronger!
Parallel Market (USD)
₦1,420
— Risk premium vs ₦1,377 official
Brent Crude
$108.67
▲ Spiked $114 at Trump presser
New Iran Deadline
Tue 8pm
ET · Wed 01:00 WAT
Iran War Day 38
+24h
Deadline extended
Iran Rejects Ceasefire — Trump Extends to Tuesday 8pm ET
Iran’s state media confirmed it rejected the 45-day ceasefire proposal from Pakistan, Egypt and Turkey. Iran demands a permanent end to the war — not a temporary pause. Trump responded by widening threats to include all Iranian bridges in addition to power plants: “Every bridge in Iran will be decimated. Every power plant will be burning.” He set a new hard deadline: Tuesday 8pm ET (Wednesday 1am WAT). Meanwhile, Pakistan’s army chief mediated overnight; Oman is working on a Hormuz shipping protocol. Oil spiked to $114/bbl when Trump spoke, then eased to $108 on ceasefire hopes. Markets are in a “binary outcomes” freeze — waiting for Tuesday’s clock to run out.
📈 Naira’s Surprising Strength: Despite oil jumping to $114/bbl and Iran rejecting the ceasefire, the naira opened at ₦1,377.80 — actually slightly stronger than Thursday’s ₦1,380.79 close. This counterintuitive performance reflects two things: first, CBN EFEMS transparency and improved market architecture means the naira is less susceptible to panic-driven selling than in previous years; second, higher oil prices at $108+ mean more dollar inflows into Nigeria’s federation account, which the CBN can deploy to defend the currency. The naira is showing it has genuinely matured as a currency — like a student who has done enough revision that the exam no longer triggers pure panic.
⚠ Tuesday 8pm ET Watch: Trump’s new deadline falls at approximately Wednesday 1:00am WAT. If power plant and bridge strikes proceed, Brent could jump another $10–$20/bbl overnight. The parallel market in Nigeria will price this in before CBN opens Tuesday morning. Do not make large FX purchases this evening or overnight until Tuesday morning’s CBN opening rate is visible. The situation could resolve — or escalate — within the next 30 hours.
Official CBN Rates — Easter Monday 6 April 2026 NFEM · CBN EFEMS · Live
| Currency | Buying (₦) | Selling (₦) | CBN Mid Rate | vs Thu Close |
|---|---|---|---|---|
USD US Dollar | ₦1,374.50 | ₦1,381.00 | ₦1,377.80 | ▲ +₦2.99 · Stronger! |
GBP British Pound | ₦1,817.00 | ₦1,833.00 | ₦1,824.86 | ▲ Naira gained vs GBP |
EUR Euro | ₦1,584.00 | ₦1,600.00 | ₦1,591.92 | ▼ Slight slip vs EUR |
CAD Canadian Dollar | ₦986.00 | ₦994.00 | ₦990.00 | — Flat |
CNY Chinese Yuan | ₦189.50 | ₦191.50 | ₦190.50 | — Flat |
Parallel (Black) Market Rates — Mon 6 April 2026 BDC · Lagos · Abuja · Kano · Risk Premium
⚠ Risk premium alert: BDCs are pricing in ~₦40 above the official rate today due to the Iran deadline uncertainty. The official rate (₦1,377.80) is the more reliable reference — the parallel gap is unusually wide today due to fear-pricing.
🇺🇸 USD — US Dollar
Buying
₦1,400
/
Selling
₦1,420
⚠ ~₦42 above CBN official · Iran fear premium
🇬🇧 GBP — British Pound
Buying
₦1,870
/
Selling
₦1,910
↓ 0.52% vs Mon of last week
🇪🇺 EUR — Euro
Buying
₦1,590
/
Selling
₦1,620
↓ 0.61% · Broadly stable
🇨🇦 CAD — Canadian Dollar
Buying
₦1,007
/
Selling
₦1,022
▲ 0.69% · Holding Q2 gains
USD/NGN vs Brent Crude — Iran War Period (Feb 28 – Apr 6) Oil shock vs naira resilience
What Today’s Rates Mean for the Street — April 6 Real-Life Impact · Iran Deadline Day
Today in plain talk: The naira is doing better than expected — but the Iran war’s outcome tonight or tomorrow will determine whether that holds. Do what you can through official channels today. Hold everything else until Tuesday’s CBN opening tells us which direction the world went.
Fuel & Transport
With Brent at $108+ and spiking to $114 when Trump spoke, pump price relief is now under serious threat. Dangote’s ₦1,200 gantry price was viable at $95–$100 oil. At $108–$120, another fuel price hike is possible if the Hormuz crisis deepens further. Watch Tuesday’s deadline outcome — it will determine petrol prices for the next fortnight.
⚠ Fuel prices at risk — watch Tue 8pm ETRemittances
The CBN official rate of ₦1,377.80 is actually better than last week’s ₦1,384.25 Q1 close — meaning diaspora transfers today convert to slightly more naira than last Monday. Use bank IMTO channels. Avoid parallel market BDCs today — the ₦1,420 sell rate is fear-inflated and likely to fall once the Iran situation resolves.
Official rate better — use IMTO, not BDCSchool Fees & Big Payments
At ₦1,377.80 official, a $10,000 payment costs ₦13.78M — the cheapest this month. If you can access the official window today — through your bank’s FX desk — this is the week’s best opportunity. Do not pay at the ₦1,420 parallel rate; that is ₦420,000 more expensive per $10K than the official window.
Best official rate this month — act todaySME Importers
CPPE confirms the naira traded ₦1,340–₦1,430 across Q1. Today’s ₦1,377 official is firmly within that sustainable range. Complete essential import FX needs through your bank today — before Tuesday’s deadline outcome reshapes the market. If Iran escalates overnight, Wednesday morning may open at ₦1,400+ official.
Use bank today — before Tue deadlineNigeria’s Oil Windfall
At $108/bbl, Nigeria’s Bonny Light — above the $75 budget benchmark — is generating a significant fiscal windfall. The CBN projects reserves could climb from $49.3B toward $51.04B this year. Higher oil prices are genuinely good for Nigeria’s external position — the paradox is that the same oil price is driving up fuel costs for ordinary Nigerians.
Oil windfall building reserves — dual-edgedBanking & Outlook
The CBN’s 27.5% MPR is continuing to attract foreign portfolio inflows, keeping the naira supported. Analysts expect the naira to trade in ₦1,370–₦1,390 in the official window if Tuesday’s deadline passes without major escalation. The naira has earned its relative calm today — three years of reforms are paying structural dividends.
₦1,370–₦1,390 target range — if Tue peaceful🚨 April 6 Action Plan — The 30-Hour Window
✓
The CBN official rate of ₦1,377.80 is your best rate today. If you have bank FX access, use it now. Do not wait for the parallel market at ₦1,420 — that is a ₦42 risk premium per dollar you are unnecessarily paying.!
Do NOT make large parallel market FX purchases this evening or overnight (6pm–8am WAT). The Trump deadline is Tuesday 8pm ET / Wednesday 1am WAT. BDC rates will move sharply within minutes of any announcement.→
Watch for Trump’s Tuesday press conference — signals will emerge in the 12–18 hours before the 8pm ET deadline. Any sign of a deal (even partial) will cause oil to drop $10–15/bbl immediately and the naira to firm.✓
If Trump strikes power plants and bridges overnight: Expect Brent at $115–$130. Hold all non-urgent FX. The naira parallel rate may jump to ₦1,440–₦1,460. Official rate could open Wednesday at ₦1,395–₦1,415. Wait 48–72 hours for the shock to settle before transacting.✓
If a deal is struck before the deadline: Act fast on Wednesday morning. A ceasefire deal could see Brent drop to $90–$95 within 24 hours and the naira firm toward ₦1,360 — the cheapest dollar rate since February’s 13-year high.✓
Monitor Naija News Feeds from 7am WAT Tuesday, April 7 — we will carry live CBN opening rates and Iran war update simultaneously as the post-deadline picture becomes clear. Disclaimer: Official CBN rates from Vanguard and Channels TV (6 April 2026 live session). Parallel rates from NairaToday.com and BDC operator aggregators. Iran war data from AP, NPR, CNBC, Fortune, Bloomberg and NBC News as of 18:00 WAT. Oil prices fluctuating — verify before transacting. Not financial advice.
