According to data shown by Thomson Reuters on Thursday, the Naira traded at an all-time low of 365.25 to a dollar in a single interbank market trade of $1m.
Interbank trading started two hours after the market opened and offered the currency sharply lower against the dollar. A total of $13m had been traded by 1235 GMT.
The Naira plunged to a record low and forwards rose, suggesting traders expect further depreciation, as the economy struggles amid a dearth of dollars.
The local currency has slumped by 38 per cent since the Central Bank of Nigeria ended a 16-month peg of 197-199 per dollar on June 20.
Local banks are unable to meet much of the demand for dollars, forcing their customers to the black market.
The Naira trades at 394 per dollar at the parallel market, around 11 per cent weaker than the official rate.
