For Friday, May 1, 2026, the Nigerian foreign exchange market is experiencing a quiet session due to the International Workers’ Day public holiday.
While the official window (NAFEM) is closed for physical trading, global digital snapshots and parallel market activities provide the following rates:
Official Exchange Rate (NAFEM)
The official rate reflects the final movements recorded before the holiday break.
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Current Rate: ₦1,374.67
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Daily High (Pre-holiday peak): ₦1,375.26
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Status: Official banking operations are closed; this remains the benchmark until the market reopens on Monday.
Parallel Market (Black Market) Rate
In the parallel market, where activity continues despite the holiday, rates remain slightly higher than the official close.
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Buying Rate: ₦1,390 – ₦1,400
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Selling Rate: ₦1,405 – ₦1,415
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Trend: Stable with moderate demand.
Exchange Rate Highlights: May 1, 2026
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Official Market: ₦1,374.67
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Black Market: ₦1,390 – ₦1,415
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CBN Reference: ₦1,380.71
