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See Dollar to Naira exchange rate today, August 17, 2026
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The Nigerian naira opened the week relatively strong against the United States dollar, with the local currency trading around N1,357.61 per dollar at the official Nigerian Foreign Exchange Market (NFEM) window and about N1,420 per dollar at the parallel market.
Data from the Central Bank of Nigeria (CBN) showed that the NFEM rate stood at N1,357.61 per US dollar as of the latest available official market data. The rate is based on the volume-weighted average of transactions in the official foreign exchange market.
The parallel market, meanwhile, continued to quote the dollar at around N1,420, leaving a gap of approximately N62.39 between the two markets. Proshare reported that the naira had appreciated by 59 basis points at the official market to N1,357.61/$, while the parallel-market rate remained at N1,420/$.
The latest official rate represents an improvement for the naira compared with the previous week’s N1,365.69 per dollar. The appreciation has been linked to improved foreign exchange liquidity and supply conditions in the official market.
More recent market indicators also point to continued stability in the naira-dollar exchange rate. A live USD/NGN rate source put the dollar at about N1,358.30 as of the early hours of August 17, while other market data placed the currency around the N1,358 level.
The naira’s performance comes amid stronger external reserves and recent changes by the CBN aimed at improving liquidity and efficiency in Nigeria’s financial markets. Nigeria’s external reserves rose to $52.19 billion as of August 12, 2026, their highest level in 17 years, according to recent reports.
For Nigerians buying or selling dollars outside the official market, the parallel-market rate remains higher than the NFEM rate. The difference reflects continued segmentation between the two foreign exchange channels, although the spread remains relatively contained compared with periods of severe market volatility.
As trading progresses on Monday, August 17, the official NFEM rate and parallel-market quotations could change depending on dollar supply, demand from importers and other FX users, CBN interventions and broader global currency movements.
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Wike tackles Amaechi: Account for $39m Hospital, N68bn Monorail, N10bn anti-malaria fumigation
… FCT Minister challenges ex-Rivers governor over stalled projects, 24-year public record
… Questions N10bn anti-malaria fumigation spending, electoral claims
… Says political leadership should empower, not pull others down
The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has fired back at former Rivers State Governor Rotimi Amaechi, challenging him to account for major projects and expenditures incurred during his administration.
Wike made the statements on Saturday, during a visit to the Uzugbani Ekpeye National Executive Council at Ekpeye House in Ahoada, Ahoada East Local Government Area of Rivers State.
Wike, who spoke on Saturday during an interactive meeting with the Uzugbani Ekpeye National Executive Council as well as leaders and stakeholders of Ahoada East and West Local Governments, Rivers State at the Ekpeye House in Ahoada, was reacting to Amaechi’s appearance on Channels Television’s Politics Today on Friday evening.
Amaechi, a former governor and Minister of Transportation, had criticised the Federal Government over its record of project delivery and challenged the administration to name major projects it had completed.
But Wike turned the spotlight on his predecessor’s record in Rivers, questioning what became of several projects initiated under Amaechi.
He specifically raised questions over the $39 million reportedly paid for the Justice Adolphus Karibi-Whyte Specialist Hospital, the N68 billion monorail project and about N10 billion allegedly spent on an anti-malaria fumigation programme.
Wike asked what became of the money committed to the hospital project after the facility was not completed.
The controversy over the hospital dates back to the Amaechi administration.
A Rivers State judicial commission set up under Wike had investigated the payment of $39.2 million to a contractor for the project and its failure to materialise.
Wike also questioned the fate of the monorail project, which was among the major infrastructure schemes initiated by the Amaechi administration, as well as the expenditure on the fumigation programme.
He went further to criticize a $10 million malaria control project that was executed with Cuba to eradicate mosquitoes in the state, dismissing the initiative as a scam.
“Ask him about the fumigation of Rivers State with people from Cuba in which $10 million was spent. Ask him whether mosquitoes have stopped biting us in Rivers State,” he said.
The FCT Minister said such issues should be considered when assessing the records of political leaders seeking higher office.
Wike also challenged Amaechi’s record after spending eight years each as Speaker of the Rivers State House of Assembly, governor and Minister of Transportation.
“Someone was Speaker of the House of Assembly for eight years, Governor for eight years, and Minister for eight years, that is 24 years in top leadership positions. What can anybody point to that he attracted to Ekpeye Land in all those 24 years? Nothing! Not one single thing!” he said.
The minister urged the people of Ahoada East and West Local Governments to demand evidence of projects and political empowerment allegedly attracted to the area during Amaechi’s years in public office.
Wike said leadership should not be measured only by the offices occupied but by the people empowered, projects delivered and structures left behind.
He contrasted this with what he described as his own efforts to empower people and develop political successors, saying leaders should not deliberately prevent others from rising.
Wike also criticised what he described as the use of personal and family tragedies for political purposes.
He said political disagreements should not descend into the exploitation of private grief, particularly matters surrounding the death of family members.
The minister warned against a political culture in which personal tragedies are deployed to gain sympathy or attack opponents.
Wike further challenged claims about Amaechi’s political influence in Rivers State, asking supporters to examine his electoral record.
“Since I left him in 2011, after 2011, mention one election that he has ever won in Rivers State,” he said.
The minister also recalled their political relationship and past disagreements, including controversies surrounding appointments and business interests involving federal maritime agencies.
He contrasted what he described as Amaechi’s approach with the Tinubu administration’s establishment of regional development structures and appointments involving people from the South-South.
His latest comments deepen the long-running political feud between the two former Rivers leaders, who once worked together before becoming major political rivals.
News
Wike opens can of worms, queries Amaechi over what happened to $39m Justice Karibi-Whyte hospital, others (Video)
The Minister of the Federal Capital Territory FCT Nyesom Wike has queried, Rotimi Amaechi over what happened to $39million Justice Karibi-Whyte hospital, N68billion Monorail, N10billion anti-malaria fumigation projects.
The minister made this disclosure during his visit to Ekpeye Kingdom Ekpeye House, in Ahoada, Ahoada East Local Government of Rivers State on Saturday.
Watch:
News
Grand reception for FCT minister Wike at Ekpeye Kingdom on a visit to Uzugbani NEC, in Ahoada LGA today (VIDEO)
A video showing the grand reception for FCT minister Nyesom Wike as he arrives at Ekpeye Kingdom for a visit to the Uzugbani Ekpeye National Executive Council, Ekpeye House, in Ahoada, Ahoada East Local Government of Rivers State today.
Watch:
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