₦83. THREE DAYS.

Thursday, 26 March 2026

The naira is at ₦1,382 official. The parallel market is at ₦1,465. The gap is now ₦83.

Wednesday's edition put the official rate at ₦1,357 and the gap at ₦73.

By March 25, the official rate had moved to ₦1,382 per dollar. The parallel market is trading closer to ₦1,465. The gap is now approximately ₦83. It widened in three days.

The macroeconomic picture is still what it was. Reserves above $50 billion. Ten consecutive months of declining inflation. Banks met the recapitalisation deadline. The CBN's reform story has real numbers behind it.

But the gap is what your transfer receipt shows.

If you sent £500 home last week at Wednesday's figures, approximately ₦678,500 arrived. At today's parallel rate, the same £500 sends approximately ₦733,000. The gap between the official and parallel rate means the number you see on an app isn't the number that lands, depending on which channel you use. The ₦83 spread is the part the government's press release won't mention.

Watch it through the weekend. When the gap widens this fast in a short window, it usually means demand pressure isn't being absorbed by the official market. Whether it holds or corrects by Monday tells you something about whether this week's movement is noise or signal.

BEFORE YOU GO!

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Publishing Editor: Adeyemi EKO

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