The Nigerian naira showed a mixed performance against the United States dollar on Friday, May 15, 2026, across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market, as traders reacted to shifting liquidity conditions and ongoing demand pressures.
At the official window, data from the Central Bank of Nigeria’s NFEM indicated that the naira traded at about ₦1,371 per dollar, slightly weaker than the approximately ₦1,368.95 recorded in the previous trading session. This points to a marginal depreciation of the local currency in the regulated market.
In the parallel market, also known as the black market, the dollar exchanged between ₦1,392 and ₦1,395 depending on location and transaction size. Dealers in major cities like Lagos and Abuja reported slightly lower buying rates, while selling rates remained close to ₦1,395.
The difference between the official NFEM rate and the parallel market rate stayed relatively tight at about ₦20 to ₦24 per dollar, indicating ongoing attempts by monetary authorities to maintain stability in the foreign exchange space.
Figures from the interbank market also showed a decline in forex turnover to about $78.8 million from roughly $130.6 million in the previous session, reflecting reduced market activity and weaker dollar supply.
Financial analysts linked the naira’s relative stability to continued interventions by the Central Bank of Nigeria, improved external reserves, and increased participation from banks and investors in the official market. However, sustained demand from importers, travellers, manufacturers, and school fee payments continues to place pressure on the currency.