The Nigerian naira appreciated slightly against the United States dollar on Wednesday, May 13, 2026, in both the official and parallel foreign exchange markets, supported by improved liquidity conditions and ongoing interventions by the Central Bank of Nigeria.
Data from the Nigerian Foreign Exchange Market (NFEM) showed the naira trading at around ₦1,373 per dollar in the official window, up from about ₦1,375 in the previous session, marking a marginal improvement for the local currency.
In the parallel market, commonly referred to as the black market, the naira exchanged between ₦1,395 and ₦1,405 per dollar in Lagos and other major trading centres, reflecting a slight appreciation compared to earlier in the week.
Market analysts linked the naira’s performance to increased dollar inflows into the official market, a drop in speculative trading, and sustained Central Bank interventions aimed at reducing the gap between official and unofficial exchange rates.
The difference between the NFEM rate and the parallel market rate narrowed to about ₦20–₦30 per dollar, indicating a relatively more stable foreign exchange environment compared to earlier periods in the year.
Trading activity at the NFEM window also improved, with higher participation from authorised dealers and forex operators, even as demand pressures persist from importers, school fees payments, business transactions, and travel-related obligations.