The Nigerian naira traded mixed against the United States dollar on Wednesday, May 20, 2026, across the official Nigerian Foreign Exchange Market (NFEM) and the parallel market amid sustained demand for foreign exchange.
Data released by the Central Bank of Nigeria showed the naira closed at about ₦1,373.65 per dollar at the official NFEM window, slightly weaker than the ₦1,373.50 recorded in the previous trading session, representing a marginal depreciation of 15 kobo.
At the parallel market, commonly referred to as the black market, the dollar traded around ₦1,390 for buying and ₦1,400 for selling in major commercial centres such as Lagos and Abuja.
Market data indicated that the gap between the official and parallel market exchange rates remained relatively narrow, reflecting continued efforts by monetary authorities to stabilise the foreign exchange market and improve liquidity.
Analysts linked the recent movement of the naira to persistent demand pressure from importers and businesses despite interventions by the Central Bank to increase dollar supply in the official market.
The NFEM remains Nigeria’s official foreign exchange market where exchange rates are determined through trading activities supervised by the Central Bank.