Economy
Cardoso: CBN FX Reforms Yielding Positive Results
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has said the bank is beginning to see signs of progress in stabilising the foreign exchange (FX) market and curbing inflation, as recent policy reforms start to yield results.
Cardoso stated this during an engagement with scholars from the Harvard Kennedy School (HKS) at the CBN headquarters in Abuja.
The scholars were visiting Nigeria as part of the Africa Trek initiative, which also included a stop in Ghana.
The visit marked the first time a Harvard Africa Trek delegation would visit the Central Bank of Nigeria.
The delegation was comprised of 50 students from 19 countries, including representatives from Harvard Business School, Massachusetts Institute of Technology (MIT), and Stanford University.
In a statement issued by the CBN on Tuesday, Cardoso, who is an HKS alumnus and the first African elected to the global HKS Alumni Board of Directors, reiterated the Bank’s commitment to driving policy-oriented solutions and strengthening trust in Nigeria’s financial system.
“As we reset the Bank, we are committed to being a hub for thought leadership. The exposure you gain from institutions like Harvard is invaluable, and we see this as an opportunity to build long-term alliances,” Cardoso said.
While addressing Nigeria’s macroeconomic outlook, he acknowledged existing challenges but pointed to key indicators suggesting improvement.
He noted that the FX market is beginning to stabilise and that inflationary pressures are gradually moderating.
The statement read, “Addressing Nigeria’s economic landscape, Mr Cardoso acknowledged recent challenges but highlighted progress in stabilizing the foreign exchange market and curbing inflation.”
Cardoso also highlighted the growing interest from international institutions as a positive signal. He referenced recent visits from senior executives at JP Morgan, Citi Bank, and the International Monetary Fund (IMF) as evidence of renewed investor confidence.
“These are individuals who base their decisions on data and trends, not sentiment. Their interest reaffirms that we are on the right path,” he added.
President of the Harvard Kennedy School Alumni Association of Nigeria, Adaora Ndukwe, and the HKS Nigeria Trek Delegation Lead, Sheffy Kolade, commended the CBN for hosting the students and for its continued engagement with future policymakers.
The Africa Trek is designed to facilitate direct interaction between emerging global leaders and key African policymakers.
It serves as a platform for discussions on governance, innovation, economic development, and the strategic role of central banks in national growth.
The Nigerian Exchange Limited fined over 30 listed firms, a cumulative sum of N562.6 million.
The fine came because the firms missed financial filing deadlines, facing penalties, suspensions, and delisting.
This is according to the latest X-Compliance Report, stating that the firms failed to submit 2025 audited financial statements on time.
Listed firms like STACO Insurance, Union Dicon Salt, Pharma-Deko, and FTN Cocoa Processors now risk delisting, with some in restructuring.
Similarly, Aluminium Extrusion and Prestige Assurance are hit by the fine.
Beyond filing delays, the NGX highlighted breaches related to unauthorized disclosures and trading during closed periods. and were cited among PPP companies that violated disclosure rules, attracting regulatory caution.
Additional structural concerns within the NGX, particularly around free float deficiencies. Several companies, including Aluminium Extrusion Industries and Prestige Assurance, fell below required thresholds, prompting regulatory waivers and compliance timelines aimed at restoring market liquidity.
NGX penalises over 30 firms for filing breaches
As of Tuesday morning, April 28, 2026, the exchange rate between the US Dollar and the Nigerian Naira has shown relative stability in the official window while facing slight pressure in the parallel market.
Current Exchange Rates
Official Rate (NAFEM): The Naira is currently trading at an average of ₦1,360.56 per $1. It opened the session at ₦1,359.23 and has seen minor intra-day fluctuations, reaching a high of ₦1,360.19 in early trading.
Parallel Market (Black Market): The Dollar is being exchanged at rates between ₦1,480 and ₦1,495. Retail liquidity remains tight across major hubs in Lagos, Abuja, and Kano.
CBN Rate: The Central Bank of Nigeria’s internal benchmark is currently positioned at ₦1,358.44.
Key Market Indicators
Inflation Rate: 15.38%
Monetary Policy Rate (MPR): 26.5%
Naira Performance: Over the past month, the Naira has strengthened by approximately 1.94%, benefiting from increased global crude oil prices and recent monetary policy adjustments.
Market Note: Despite the official stability, the gap between the official and parallel markets remains roughly ₦120 – ₦135, a spread that traders are monitoring for potential arbitrage risks.
Dollar To Naira Exchange Rate
The Black Market Dollar-to-Naira Exchange Rate for 27th April 2026 Can Be Accessed Below.
IMPORTANT NOTE: The exchange rate changes hourly. It depends on the volume of dollars available and the Demand. This means…you can buy or sell 1 dollar at a certain rate.
The official naira black market exchange rate in Nigeria today, including the Black Market rates, Bureau De Change (BDC), and CBN rates.
Please note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market.
What’s the dollar to naira black market today, 27th April 2026?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1400 and buy at ₦1390 on Monday 27th April, 2026, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Today
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Selling Rate ₦1400
Buying Rate ₦1390
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate ₦1361
Lowest Rate ₦1354
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