The NFEM opened in December 2024 as Nigeria's reformed interbank FX market. Across 348 daily sessions to April 2026 the closing rate has ranged between about ₦1,337 and ₦1,660/$, set by live market supply and demand — easing to roughly ₦1,374/$ by the end of the window.
Unlike the CBN's administrative rate, NFEM rates come from actual trades between authorised dealers — so they're the closest market read on what the Naira is really worth from one day to the next.
The blue line is the daily closing rate; green and red are the day's highest and lowest, and gold is the weighted average. A wider gap between high and low means a more volatile trading day.
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What this shows: The daily closing rate on Nigeria's interbank FX market (NFEM) — market-determined, unlike the CBN administrative rate. 348 sessions from December 2024 to April 2026.