WEEK CLOSE
CBN Official: USD ~₦1,392 · GBP ~₦1,832 · EUR ~₦1,607 — Fri 10 Apr 2026 · Q2 Week 2 Close ⚠ CEASEFIRE REALITY CHECK: Hormuz still restricted · 230 tankers waiting · Oil rebounds to $97.87 Parallel: USD ₦1,420 sell / ₦1,405 buy · Gap widened slightly as optimism fades 🌍 DIASPORA WINDOW: 12 days to April 22 ceasefire expiry · Act on remittances and investments this week Iran’s IRGC limiting Hormuz traffic despite ceasefire · Netanyahu agrees to negotiate with Lebanon Brent closed Thu at $95.92 · WTI $97.87 · Partial recovery from $94.75 ceasefire low CBN Official: USD ~₦1,392 · GBP ~₦1,832 · EUR ~₦1,607 — Fri 10 Apr 2026 · Q2 Week 2 Close 🌍 DIASPORA WINDOW: 12 days to April 22 · Best remittance rate since Feb · FGN Eurobonds 9.5–11.5%
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📊 Business & Economy · Q2 Week 2 Close · Ceasefire Reality CheckNaira Exchange Rate Today —
Rates indicative · Verify before sending
Naira Exchange Rate Today —
Friday, 10 April 2026
💵 Dollar to Naira Today 🏦 CBN Rate April 2026 🛒 Black Market Rate 💷 Pound to Naira 💶 Euro to Naira ⚠ Hormuz Crisis Update 📊 Q2 Week 2 Scorecard 🌍 Diaspora Remittance Guide 📈 Invest Nigeria 2026 ⛽ Fuel Price Outlook 🔢 Naira Converter
CBN Official (USD)
~₦1,392
▲ ₦12 above Thu · Adjusting
Parallel (USD)
₦1,420
— Steady · Residual risk premium
Brent Crude
~$96–98
▲ Rebounding · Hormuz still restricted
Days to Apr 22
12 Days
Ceasefire expiry countdown
⚠ Ceasefire Reality Check — What’s Actually Happening
The markets celebrated the ceasefire on Wednesday — oil crashed 16.5%, stocks surged, the naira held steady. But by Thursday, the honeymoon was over. Iran’s IRGC is still limiting Hormuz traffic despite the ceasefire, insisting on conditions before allowing passage. According to Abu Dhabi National Oil Company CEO Sultan Al Jaber, the Strait is still not open and 230 loaded oil tankers are sitting idle inside the Gulf. Iran’s parliamentary speaker accused the US of breaching the ceasefire on three counts: Israel’s continued Lebanon strikes, a drone entering Iranian airspace, and the US refusing to accept Iran’s uranium enrichment programme. Oil rebounded sharply Thursday — WTI briefly surged back above $100/bbl before pulling back to close at $97.87 after Israel agreed to negotiate with Lebanon. The ceasefire is holding — but barely, and on conditional terms that remain contested. For Nigeria, this means the oil price relief of Wednesday ($94-$95) is already partially reversing toward $96-$100. The parallel market is adjusting accordingly: today’s ₦1,420 reflects the market pricing in both the ceasefire optimism and the Hormuz reality simultaneously.
Friday Deep Analysis — Q2 Week 2 Close: The naira ends Q2’s second week in a fascinating position: caught between two narratives. On one side, the ceasefire has genuinely improved the macro backdrop — oil is lower than the $108-$114 war peak, the EFEMS system is working, CBN reserves are stable at $49.13B, and diaspora remittance reforms are providing steady dollar supply. On the other side, the Hormuz reality is sobering — the strait is effectively still closed, oil has bounced back toward $97-$98, and the ceasefire’s fragility is now priced into every transaction.
Think of the naira right now like a tug-of-war where one team (ceasefire optimism, EFEMS, CBN stability) is slightly stronger than the other (Hormuz reality, end-of-week demand, Iran ambiguity) — but neither team is about to win decisively. The result: today’s ₦1,392 official rate, which is weaker than Thursday’s ₦1,379.50 but still dramatically better than the ₦1,395+ war-peak rates of two weeks ago. The week has been net positive for the naira — and net positive for every Nigerian with dollar needs.
The critical question going into next week: will Iran open Hormuz fully, or will the IRGC continue conditioning traffic? If tankers start moving in meaningful volumes, Brent will slide back toward $90 and the naira could test ₦1,370. If the strait stays restricted, oil pushes back toward $100-$105 and the naira retreats to ₦1,395-₦1,410.
Think of the naira right now like a tug-of-war where one team (ceasefire optimism, EFEMS, CBN stability) is slightly stronger than the other (Hormuz reality, end-of-week demand, Iran ambiguity) — but neither team is about to win decisively. The result: today’s ₦1,392 official rate, which is weaker than Thursday’s ₦1,379.50 but still dramatically better than the ₦1,395+ war-peak rates of two weeks ago. The week has been net positive for the naira — and net positive for every Nigerian with dollar needs.
The critical question going into next week: will Iran open Hormuz fully, or will the IRGC continue conditioning traffic? If tankers start moving in meaningful volumes, Brent will slide back toward $90 and the naira could test ₦1,370. If the strait stays restricted, oil pushes back toward $100-$105 and the naira retreats to ₦1,395-₦1,410.
📊 Week 2 net verdict: Despite the ceasefire fragility, the naira is ending the week ~₦8 stronger than the Iran-deadline war peak (₦1,400+), and oil is ~15% lower than the $114 peak of April 6. The ceasefire — however fragile — has structurally changed the macro environment. Even if Hormuz remains partially restricted, the threat of a full Hormuz closure and $130 oil has receded significantly from the April 6 scenario. The floor under the naira is higher than it was two weeks ago.
⚠ Weekend caution: CBN markets are closed Saturday–Sunday. Any Hormuz-related developments over the weekend will be priced into parallel market BDC rates before CBN reopens Monday. With the ceasefire fragile and Iran still conditioning transit, avoid large non-urgent FX purchases Saturday–Sunday. The Monday open will set the Week 3 tone.
Official CBN Exchange Rates — Friday 10 April 2026 NFEM · EFEMS · Q2 Week 2 Close
| Currency | CBN Buy (₦) | CBN Sell (₦) | Mid Rate | Parallel Est. | Week Change |
|---|---|---|---|---|---|
USD US Dollar | ₦1,388.50 | ₦1,395.50 | ~₦1,392.00 | ₦1,405–₦1,420 | ▼ vs Thu · ▲ vs Apr 6 war peak |
GBP British Pound | ₦1,826.00 | ₦1,838.00 | ~₦1,832.00 | ₦1,890–₦1,910 | — Broadly flat vs Mon |
EUR Euro | ₦1,600.00 | ₦1,614.00 | ~₦1,607.00 | ₦1,615–₦1,630 | ▼ Slight naira slip vs EUR |
CAD Canadian Dollar | ₦986.00 | ₦994.00 | ₦990.00 | ₦1,010–₦1,025 | — Flat |
CNY Chinese Yuan | ₦190.50 | ₦192.50 | ₦191.50 | ₦196–₦202 | — Flat |
SAR Saudi Riyal | ₦368.00 | ₦373.00 | ~₦370.50 | ₦378–₦385 | ▼ Slight slip |
Rates estimated from EkohotBlog April 10 data (₦1,390–₦1,400 range) and consistent with Q2 Week 2 trajectory. Mid-rate: ₦1,392. Parallel from EkohotBlog (₦1,405 buy · ₦1,420 sell). Verify before transacting — CBN EFEMS is the authoritative source.
Q2 Week 2 Full Scorecard — Mon 7 to Fri 10 April 2026 War to Ceasefire to Reality Check
| Day | CBN Official | Parallel | Oil (Brent) | Event | Grade |
|---|---|---|---|---|---|
| Mon 31 Mar (ref) | ₦1,384 | ₦1,415 | $101 | Q1 close | B |
| Mon 7 Apr | ₦1,379.30 | ₦1,415 | $99 | 🕊 Ceasefire opens | A |
| Tue 8 Apr | ₦1,382.04 | ₦1,410–₦1,425 | $94.75 | Ceasefire Day 1 · oil crash | A |
| Wed 9 Apr | ₦1,379.50 | ₦1,415–₦1,430 | $95.92 | Hormuz reality · oil bounces | B+ |
| Fri 10 Apr ← Today | ~₦1,392 | ₦1,420 | ~$97 | ⚠ Fragile CF · Week close | B |
| Week 2 Net Result: Naira +₦8 vs war peak (₦1,400) · Oil -15% from $114 · Window open for 12 more days | B+ | ||||
Naira vs Oil — Full War + Ceasefire Period (Feb 28 – Apr 10) USD/NGN & Brent · Dual Axis
🌍
Diaspora Investment & Remittance Guide — Week 2 Update
For Nigerians in the UK, USA, Canada, Europe & Gulf. Despite the ceasefire fragility, the window remains open. Today’s ₦1,392 official rate is still 10% better than mid-2025 parallel rates. Here is the updated picture for week-close decisions.
Remittances — Friday Timing
Today’s ₦1,392 official rate means $1,000 → ₦1.392M at the bank IMTO window. That is still ₦148,000 more than the April 6 war-peak parallel rate of ₦1,540/$ a year ago. The slight weakening from Thursday’s ₦1,379.50 is the Hormuz reality adjustment — not a trend reversal. Best strategy: send today or early next week before the April 22 countdown intensifies. Use Grey, Chipper or bank IMTO — avoid street BDCs this weekend which will price in additional risk premium.
💡 £1 → ~₦1,832 · €1 → ~₦1,607 · C$1 → ~₦990 · SAR1 → ~₦370 ✅ Still a good rate — send via IMTOProvider Comparison — $500 Transfer
What your family receives at different providers at today’s rates:
| Provider | Rate | Gets |
|---|---|---|
| BESTBank IMTO | ₦1,392 | ₦696,000 |
| GOODGrey/Chipper | ₦1,378–₦1,388 | ₦689,000–₦694,000 |
| GOODWise | ₦1,360–₦1,370 | ₦680,000–₦685,000 |
| OKWestern Union | ₦1,335–₦1,350 | ₦667,500–₦675,000 |
| AVOIDStreet BDC | ₦1,405–₦1,420 | Risk + spread |
Investment Window — Still Open
The ceasefire fragility doesn’t close the investment window — it just adds a hedge requirement. Best plays right now:
• FGN Savings Bonds: 12.5–14.5% naira at dmo.gov.ng — still excellent. Apply before April 20.
• FGN Eurobonds: 9.5–11.5% USD — access via Euronext Dublin. Dollar-denominated; immune to naira volatility.
• NGX equities: Banking and consumer goods remain strong plays. Open broker accounts via Stanbic IBTC or CardinalStone this week.
• Naira FD: 18–22% at tier-1 banks. In a firming naira, this remains the highest legal return available to retail investors.
✅ Act before April 20 · 12 days remaining• FGN Savings Bonds: 12.5–14.5% naira at dmo.gov.ng — still excellent. Apply before April 20.
• FGN Eurobonds: 9.5–11.5% USD — access via Euronext Dublin. Dollar-denominated; immune to naira volatility.
• NGX equities: Banking and consumer goods remain strong plays. Open broker accounts via Stanbic IBTC or CardinalStone this week.
• Naira FD: 18–22% at tier-1 banks. In a firming naira, this remains the highest legal return available to retail investors.
Property — Dollar Cost This Week
A ₦100M Nigerian property costs you approximately $71,839 at today’s ₦1,392 official rate — slightly more expensive than Thursday’s ₦1,379.50 ($72,517), but still cheaper than the war-peak parallel rate of ₦1,540 ($64,935 in mid-2025) and the April 6 war-day rate. The ceasefire has not eliminated the property buying window. Lekki, Maitama and Enugu GRA remain compelling entry points.
Timeline: Engage estate agents and solicitors now. Complete due diligence before April 22. If ceasefire holds, post-April 22 naira could firm again toward ₦1,370 (cutting your dollar cost further). If it doesn’t — you’ll still have transacted at a historically reasonable rate.
✅ ₦100M = ~$71,839 today · Window openTimeline: Engage estate agents and solicitors now. Complete due diligence before April 22. If ceasefire holds, post-April 22 naira could firm again toward ₦1,370 (cutting your dollar cost further). If it doesn’t — you’ll still have transacted at a historically reasonable rate.
Street Impact — What Today’s Rates Mean for Nigeria Friday 10 Apr · Week-Close Edition
The ceasefire is real — but so is the Hormuz bottleneck. The naira is slightly weaker than peak ceasefire optimism, but still in a structurally better position than last week. Here is how this week ends for Nigerian households and businesses.
Fuel — Still Improving, Cautiously
With Brent closing Thursday at $95.92 (up from $94.75 low, but down from $108 war peak), Dangote’s ₦1,200 gantry price is still under pressure to revise downward. But the partial Hormuz closure is slowing the pace. The expected ₦1,050–₦1,100 gantry price cut is now more likely mid-to-late April rather than next week. Pump prices have eased in some stations — ₦1,250–₦1,300 is now common in Lagos.
Coming — delayed by Hormuz restrictionFood & Market — Lag Effect
The 2–4 week lag between currency/fuel and food prices means this week’s market basket is still reflecting the pre-ceasefire fear premium. Prices should begin easing from late April if oil holds below $100 and the naira stays near ₦1,390–₦1,400. Watch wholesale palm oil and vegetable oil prices as leading indicators — they typically move first.
Relief coming — late April targetSME Importers — Last Weekly Window
This is the last full trading week before the April 22 ceasefire expiry deadline. SMEs with Q2 import FX needs should complete orders by Friday close today. The ₦1,392 official rate is still 15% better than the ₦1,540 parallel rate of mid-2025. Do not wait for a “perfect” rate — the April 22 uncertainty could push the naira back to ₦1,410–₦1,420 if talks stall.
⏰ Last clean window before Apr 22 riskHealthcare & Medical Tourism
Medical tourism costs (India, Turkey, UK for Nigerians) and pharmaceutical import costs both benefit from the ceasefire-era naira. A ₦2M medical bill in India that would have cost 30% more at ₦1,540 parallel now costs roughly the same as it did at the 2024 pre-devaluation era. Pharmaceutical companies importing APIs and medical devices should lock in Q2 contracts at current rates.
Lower cost vs war peak · Act now📋 Weekend & Week 3 Action Plan — April 11–18
!
Avoid large parallel market FX purchases this weekend (Sat–Sun). CBN is closed. Hormuz is still restricted. Any Hormuz escalation news will hit BDC rates before Monday’s CBN open. Hold positions and monitor headlines.✓
If you have urgent FX needs: complete through your bank today (Friday) before 3pm WAT. The ₦1,392 official rate is accessible today. Monday could open higher or lower depending on weekend Hormuz developments.★
Diaspora: Act on investments, remittances and property due diligence this coming week (Apr 13–18) — the best window before the April 22 expiry countdown intensifies from April 18 onwards.→
Watch for Dangote gantry price announcement expected week of April 14–18. A cut from ₦1,200 to ₦1,050–₦1,100 would be the most meaningful consumer relief signal of Q2.→
Monitor Hormuz tanker traffic data from shipping sources (Kpler, Lloyd’s). If 230 waiting tankers begin moving, Brent will drop and the naira will firm. If Iran tightens conditions, oil rises and the naira weakens.!
April 18: begin preparing for April 22 ceasefire expiry. Have your FX budget in place, your broker accounts open, and your contingency plan ready for both outcomes (deal / no deal). Do not be caught flat-footed. Disclaimer: Official rate estimate from EkohotBlog (10 April 2026, ₦1,390–₦1,400 range). Parallel rates from BDC operators. Iran/Hormuz data from CNBC, OilPrice.com, Channels TV (April 9–10). All investment information is for general knowledge only — not financial advice. Verify all rates before transacting. Ceasefire projections are estimates.