Data from the NFEM showed the official volume-weighted average (VWAP) rate stood between ₦1,470 and ₦1,475 per dollar, aligning closely with Central Bank and interbank references around ₦1,460–₦1,475.
In contrast, parallel market trackers, including AbokiFX and other crowd-sourced platforms, quoted between ₦1,480 and ₦1,500 to the dollar.
Dealers attributed the persistent disparity to limited dollar supply in the official market and fluctuating demand from importers and investors. Market reports also pointed to ongoing pressure from foreign investors selling off local assets and restricted Central Bank dollar provisioning.
The rate gap continues to influence daily economic activity — raising costs for importers, improving returns for remittance receivers using informal channels, and pushing up prices of dollar-dependent goods and services.
