The Naira is now trading at ₦1,552 per dollar, according to the latest figures released on Thursday, April 3rd, 2025. This shows a slight drop from Wednesday’s rate of ₦1,531, based on data from the Central Bank of Nigeria (CBN). Even at the black market, the dollar also stands around ₦1,552, showing how close both rates have become.
This comes after CBN decided to join all foreign exchange rates into one single system in 2023. Now, everything goes through what is called the “Investors and Exporters (I&E) window.” This means all forex applications, including school fees, medical bills, travel, and business, must now go through banks, and rates are determined by market demand and supply.
Experts say Nigeria is now allowing the Naira to float freely—meaning the government is no longer fixing the price. The market decides what the dollar or naira should be worth. The CBN says it will still guide banks on how to follow these new rules and make sure trading remains fair and open.
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