The Nigerian naira maintained relative stability against the United States dollar on Monday, May 25, 2026, across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market.
Figures from the Central Bank of Nigeria’s NFEM window showed the official exchange rate trading around ₦1,375 per dollar, following the previous closing rate of ₦1,375.46/$ recorded on May 22.
In the parallel market, commonly referred to as the black market, Bureau De Change operators in Lagos and Abuja quoted the dollar at about ₦1,385 for buying and between ₦1,395 and ₦1,400 for selling.
Currency monitoring platforms tracking retail foreign exchange transactions also indicated that the naira traded close to ₦1,397/$ in the street market on Monday morning.
The difference between the official NFEM rate and the parallel market rate continued to highlight persistent demand pressure within the retail forex segment, despite ongoing reforms and interventions by the Central Bank of Nigeria.
Analysts noted that the naira’s recent stability has been driven by improved dollar liquidity and tighter monetary policies, although import demand and global market volatility still pose challenges.
At the official market, the NFEM rate remains the benchmark exchange rate adopted by the CBN and is determined using a volume-weighted average system.