The Nigerian Naira traded within a relatively stable range against the United States Dollar on Friday, May 8, 2026, across both the official Nigerian Foreign Exchange Market (NFEM) and the parallel market, as market participants tracked liquidity conditions and Central Bank interventions.
Data from the Central Bank of Nigeria’s exchange rate portal showed that the official NFEM rate remained around the ₦1,366 per dollar range in recent sessions. Trading activity saw fluctuations between approximately ₦1,362 and ₦1,370 per dollar, driven by ongoing supply and demand movements.
In the parallel market, also known as the black market, dealers in Lagos and Abuja exchanged the dollar at about ₦1,385 for buying, while selling rates ranged between ₦1,395 and ₦1,400 depending on location and transaction size.
Market analysts said the narrowing gap between official and parallel market rates indicates improved liquidity in the formal forex window, alongside continued efforts by the Central Bank of Nigeria to stabilise the naira.
However, traders noted that demand pressure from importers, travellers, and businesses seeking foreign exchange continued to shape market sentiment despite recent gains recorded by the local currency.