As of Wednesday, May 6, 2026, the Naira continues to show relative stability against the US Dollar in both the official and parallel markets due to sustained liquidity interventions.
Below are the prevailing exchange rates:
Official Market (NFEM)
The official rate at the Nigerian Foreign Exchange Market (NFEM) is trading in a narrow band between ₦1,374 and ₦1,376 per Dollar. Recent interbank activity has seen the rate hover around ₦1,365.77 during early morning trading.
Parallel Market (Black Market)
In the parallel market, Bureau De Change (BDC) operators in major hubs like Lagos and Abuja are quoting the following rates:
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Buying: ~₦1,385
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Selling: ₦1,390 – ₦1,400
Market Summary
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Stability: The Naira has maintained a steady range over the last few days, largely credited to Central Bank of Nigeria (CBN) policy measures aimed at reducing volatility.
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The Gap: The spread between the official and black market rates remains relatively narrow compared to previous months, though a premium of roughly ₦15–₦25 persists due to high demand for travel, imports, and offshore payments.
