The Nigerian naira maintained its steady performance against the United States Dollar in the early hours of Friday, May 22, 2026, showing continued stability in both the official foreign exchange window and the informal parallel market.
NFEM Rates Hold Steady
In the Nigerian Foreign Exchange Market (NFEM), the official platform for formal trading, the naira opened the session at 1,370.05 per US Dollar. This mirrors the previous day’s trading pattern, where averages remained within the 1,371 to 1,373 range.
Liquidity in the official market remained strong, backed by consistent interbank activity and Central Bank of Nigeria (CBN) interventions that helped ensure smooth transactions and limit sudden volatility in the morning session.
Parallel Market Shows Strong Convergence
In informal trading centres across Lagos, Abuja, and Kano, the naira also held steady. Bureau De Change operators quoted buying rates around 1,370 Naira and selling rates near 1,372 Naira for a single US Dollar.
The close alignment between the parallel market and the official NFEM rate reflects a continued narrowing of the gap that traditionally exists between both segments.
Market Outlook
Analysts link the current stability to balanced demand conditions and tight monetary policy measures. With the Monetary Policy Rate (MPR) maintained at 26.5 percent, liquidity control continues to support the naira, reduce speculation, and keep the foreign exchange market within a stable range for businesses and investors.